XTX Topco Ltd Purchases New Position in RadNet, Inc. $RDNT

XTX Topco Ltd acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,700 shares of the medical research company’s stock, valued at approximately $495,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RDNT. Prudential Financial Inc. grew its position in shares of RadNet by 7.5% during the 2nd quarter. Prudential Financial Inc. now owns 68,840 shares of the medical research company’s stock worth $3,918,000 after buying an additional 4,820 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of RadNet by 4.0% in the second quarter. American Century Companies Inc. now owns 1,324,153 shares of the medical research company’s stock valued at $75,358,000 after acquiring an additional 51,225 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in RadNet by 20.5% in the second quarter. Segall Bryant & Hamill LLC now owns 319,407 shares of the medical research company’s stock worth $18,177,000 after acquiring an additional 54,364 shares during the period. Rhumbline Advisers grew its holdings in RadNet by 5.7% during the 2nd quarter. Rhumbline Advisers now owns 185,837 shares of the medical research company’s stock worth $10,576,000 after acquiring an additional 10,061 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in RadNet by 22.0% during the 2nd quarter. Franklin Resources Inc. now owns 552,313 shares of the medical research company’s stock worth $31,432,000 after acquiring an additional 99,757 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Stock Up 2.0%

RadNet stock opened at $81.08 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -476.91 and a beta of 1.49. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $85.84. The business has a fifty day moving average price of $78.37 and a 200-day moving average price of $67.71.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). The business had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Equities research analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Transactions at RadNet

In other news, CAO Mital Patel sold 25,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $76.06, for a total value of $1,901,500.00. Following the transaction, the chief accounting officer directly owned 205,138 shares of the company’s stock, valued at approximately $15,602,796.28. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 500 shares of RadNet stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $72.13, for a total value of $36,065.00. Following the sale, the chief executive officer directly owned 53,495 shares of the company’s stock, valued at $3,858,594.35. This trade represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 96,000 shares of company stock worth $7,287,864. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RDNT shares. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Morgan Stanley raised RadNet to an “overweight” rating in a research report on Monday, August 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price target on shares of RadNet in a report on Friday, November 14th. B. Riley upped their price objective on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial raised their price objective on RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

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.