Moran Wealth Management LLC Buys 432 Shares of RadNet, Inc. (NASDAQ:RDNT)

Moran Wealth Management LLC grew its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,418 shares of the medical research company’s stock after purchasing an additional 432 shares during the quarter. Moran Wealth Management LLC’s holdings in RadNet were worth $728,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RDNT. Covestor Ltd increased its position in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after buying an additional 435 shares during the period. Crossmark Global Holdings Inc. grew its holdings in RadNet by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after acquiring an additional 296 shares during the period. Chartwell Investment Partners LLC grew its holdings in RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after acquiring an additional 193 shares during the period. Natixis Advisors LLC raised its position in shares of RadNet by 11.4% in the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in shares of RadNet in the 3rd quarter valued at about $207,000. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group lowered their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Barclays cut their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. One research 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 presently has a consensus rating of “Buy” and a consensus target price of $76.75.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $49.24 on Wednesday. The stock’s 50 day moving average is $62.44 and its 200-day moving average is $68.44. RadNet, Inc. has a twelve month low of $42.45 and a twelve month high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -703.33 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity at RadNet

In related news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the sale, the director now owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the transaction, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,000 shares of company stock valued at $1,426,680. 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.