AGF Management Ltd. Raises Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

AGF Management Ltd. boosted its stake in RadNet, Inc. (NASDAQ:RDNT) by 59.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,035 shares of the medical research company’s stock after acquiring an additional 88,795 shares during the period. AGF Management Ltd. owned 0.32% of RadNet worth $16,624,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its holdings in RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after acquiring an additional 136 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in shares of RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after buying an additional 193 shares in the last quarter. Highland Capital Management LLC boosted its holdings in shares of RadNet by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after buying an additional 202 shares in the last quarter. Virtue Capital Management LLC boosted its holdings in shares of RadNet by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after buying an additional 264 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of RadNet by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after buying an additional 296 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 2.5 %

NASDAQ RDNT opened at $49.24 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $3.65 billion, a P/E ratio of -703.33 and a beta of 1.85. RadNet, Inc. has a one year low of $42.45 and a one year high of $93.65. The stock has a 50 day moving average price of $62.44 and a 200-day moving average price of $68.44.

RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, equities analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on RDNT shares. Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Jefferies Financial Group lowered their price target on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $76.75.

Insider Activity at RadNet

In other RadNet news, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock valued at $1,426,680 over the last quarter. 5.12% of the stock is owned by corporate insiders.

RadNet Company 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.