Nations Financial Group Inc. IA ADV Purchases New Position in RadNet, Inc. $RDNT

Nations Financial Group Inc. IA ADV purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,674 shares of the medical research company’s stock, valued at approximately $1,118,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oak Ridge Investments LLC boosted its holdings in RadNet by 1.6% in the fourth quarter. Oak Ridge Investments LLC now owns 34,354 shares of the medical research company’s stock valued at $2,451,000 after purchasing an additional 535 shares in the last quarter. Assetmark Inc. boosted its holdings in RadNet by 17.0% in the fourth quarter. Assetmark Inc. now owns 2,951 shares of the medical research company’s stock valued at $211,000 after purchasing an additional 429 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in RadNet by 2.1% in the fourth quarter. State of Alaska Department of Revenue now owns 39,662 shares of the medical research company’s stock valued at $2,829,000 after purchasing an additional 826 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of RadNet by 16.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 9,295 shares of the medical research company’s stock valued at $663,000 after acquiring an additional 1,320 shares during the period. Finally, Ellsworth Advisors LLC acquired a new stake in shares of RadNet in the fourth quarter valued at approximately $741,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

RDNT stock opened at $60.39 on Friday. The company has a market capitalization of $4.69 billion, a P/E ratio of -241.56 and a beta of 1.53. RadNet, Inc. has a twelve month low of $46.76 and a twelve month high of $85.84. The business has a 50 day simple moving average of $63.10 and a 200-day simple moving average of $71.42. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $547.71 million during the quarter, compared to the consensus estimate of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In related news, insider Alma Gregory Sorensen sold 15,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares of the company’s stock, valued at $75,134,564.45. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RDNT shares. KeyCorp raised RadNet to a “strong-buy” rating in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and issued a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. Finally, UBS Group set a $92.00 price objective on RadNet in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

RadNet Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.