Edmond DE Rothschild Holding S.A. Acquires Shares of 19,000 RadNet, Inc. $RDNT

Edmond DE Rothschild Holding S.A. bought a new position in RadNet, Inc. (NASDAQ:RDNTFree Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 19,000 shares of the medical research company’s stock, valued at approximately $1,172,000.

Several other hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in shares of RadNet during the fourth quarter valued at approximately $25,000. Allworth Financial LP raised its stake in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after buying an additional 305 shares during the last quarter. Danske Bank A S purchased a new position in RadNet during the third quarter valued at $30,000. Eurizon Capital SGR S.p.A. bought a new stake in RadNet in the fourth quarter worth $36,000. Finally, Harbour Investments Inc. purchased a new stake in shares of RadNet in the fourth quarter worth $42,000. Institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

NASDAQ RDNT opened at $77.05 on Friday. The business’s fifty day moving average price is $64.82 and its 200-day moving average price is $61.94. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -285.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48. RadNet, Inc. has a 1-year low of $50.82 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNTGet Free Report) last posted its earnings results on Monday, August 10th. The medical research company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $622.72 million for the quarter, compared to the consensus estimate of $610.87 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.RadNet’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, equities analysts predict that RadNet, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDNT has been the subject of several recent analyst reports. Zacks Research raised RadNet from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Barclays decreased their target price on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Friday, August 7th. Truist Financial raised their price target on shares of RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Check Out Our Latest Research Report on RDNT

Insider Buying and Selling

In other news, CEO Cornelis Wesdorp sold 4,750 shares of RadNet stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the transaction, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 2,699 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total transaction of $145,449.11. Following the sale, the director directly owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. The trade was a 1.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.14% of the company’s stock.

RadNet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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