Whittier Trust Co. Increases Position in RadNet, Inc. (NASDAQ:RDNT)

Whittier Trust Co. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,783 shares of the medical research company’s stock after purchasing an additional 8,862 shares during the period. Whittier Trust Co.’s holdings in RadNet were worth $14,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RDNT. USA Financial Formulas acquired a new stake in RadNet in the 4th quarter worth about $30,000. Fifth Third Bancorp boosted its holdings in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after buying an additional 305 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after buying an additional 1,063 shares during the last quarter. Twin Tree Management LP acquired a new stake in RadNet in the 4th quarter worth about $106,000. Finally, IFP Advisors Inc boosted its holdings in RadNet by 39.1% in the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after buying an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

RDNT has been the topic of several research analyst reports. StockNews.com upgraded RadNet to a “sell” rating in a report on Wednesday. Barclays lowered their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Truist Financial restated a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, RadNet presently has a consensus rating of “Buy” and an average price target of $76.75.

RadNet Stock Up 4.7 %

RDNT stock opened at $50.71 on Thursday. The firm has a market cap of $3.75 billion, a PE ratio of -724.33 and a beta of 1.85. 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 firm’s 50 day moving average price is $59.62 and its 200-day moving average price is $67.70. RadNet, Inc. has a one year low of $45.16 and a one year high of $93.65.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, equities research analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Activity

In other RadNet news, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares of the company’s stock, valued at $13,042,938.61. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business’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 sale, the chief executive officer now directly 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 90 days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by company 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.