Deutsche Bank AG Takes $30.59 Million Position in RadNet, Inc. $RDNT

Deutsche Bank AG bought a new stake in shares of RadNet, Inc. (NASDAQ:RDNTFree Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 495,962 shares of the medical research company’s stock, valued at approximately $30,586,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in shares of RadNet in the 4th quarter worth approximately $25,000. Allworth Financial LP raised its holdings in shares of 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 acquiring an additional 305 shares in the last quarter. Danske Bank A S bought a new position in shares of RadNet during the third quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in RadNet in the fourth quarter worth $36,000. Finally, Harbour Investments Inc. purchased a new stake in RadNet in the fourth quarter worth $42,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Down 0.3%

Shares of NASDAQ RDNT opened at $76.82 on Friday. The firm’s 50 day moving average price is $65.23 and its 200-day moving average price is $62.04. The company has a market cap of $6.05 billion, a PE ratio of -284.51 and a beta of 1.36. RadNet, Inc. has a 52-week low of $50.82 and a 52-week high of $85.84. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.48 and a current ratio of 1.48.

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

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on RDNT

Insider Buying and Selling

In related news, Director David L. Swartz sold 2,699 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the transaction, the director owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 4,750 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 69,075 shares of the company’s stock, valued at $4,013,948.25. This trade represents a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.14% of the company’s stock.

About RadNet

(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.

See Also

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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