Emerald Advisers LLC Sells 23,047 Shares of RadNet, Inc. (NASDAQ:RDNT)

Emerald Advisers LLC lowered its holdings in RadNet, Inc. (NASDAQ:RDNT) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 647,932 shares of the medical research company’s stock after selling 23,047 shares during the period. RadNet accounts for about 1.6% of Emerald Advisers LLC’s portfolio, making the stock its 8th biggest position. Emerald Advisers LLC’s holdings in RadNet were worth $38,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RDNT. SG Americas Securities LLC grew its position in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in RadNet by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock valued at $1,177,000 after purchasing an additional 353 shares during the period. GAMMA Investing LLC grew its position in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 627 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of RadNet by 6.2% during the first quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock valued at $547,000 after buying an additional 656 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RadNet

In related news, CFO Mark Stolper sold 25,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.27, for a total transaction of $1,531,750.00. Following the completion of the sale, the chief financial officer now directly owns 80,398 shares of the company’s stock, valued at $4,925,985.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Alma Gregory Sorensen sold 5,000 shares of RadNet stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $61.24, for a total value of $306,200.00. Following the transaction, the executive vice president now owns 1,249,205 shares of the company’s stock, valued at approximately $76,501,314.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Stolper sold 25,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $61.27, for a total transaction of $1,531,750.00. Following the sale, the chief financial officer now directly owns 80,398 shares of the company’s stock, valued at $4,925,985.46. The disclosure for this sale can be found here. Insiders have sold 95,330 shares of company stock valued at $5,874,652 in the last quarter. Insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $62.41 on Friday. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $67.93. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a fifty day moving average price of $61.67 and a two-hundred day moving average price of $54.92. The firm has a market cap of $4.61 billion, a P/E ratio of 208.03 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last announced its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts forecast that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of recent analyst reports. Truist Financial increased their price objective on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, July 15th. StockNews.com cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Jefferies Financial Group lifted their price objective on shares of RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $57.00 to $79.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

RadNet Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.