Y Intercept Hong Kong Ltd Buys 10,668 Shares of RadNet, Inc. $RDNT

Y Intercept Hong Kong Ltd grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 237.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,170 shares of the medical research company’s stock after purchasing an additional 10,668 shares during the period. Y Intercept Hong Kong Ltd’s holdings in RadNet were worth $1,156,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RDNT. Farther Finance Advisors LLC raised its holdings in RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after purchasing an additional 402 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of RadNet during the 3rd quarter worth approximately $37,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of RadNet during the 2nd quarter valued at about $35,000. State of Wyoming purchased a new stake in RadNet during the 2nd quarter valued at $58,000. Finally, Neo Ivy Capital Management purchased a new stake in RadNet in the 2nd quarter worth about $88,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RadNet

In related news, CAO Mital Patel sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 205,138 shares in the company, valued at approximately $15,602,796.28. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $3,902,254. 5.60% of the stock is currently owned by corporate insiders.

RadNet Price Performance

RDNT stock opened at $70.10 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -412.33 and a beta of 1.51. The business has a 50 day moving average price of $75.10 and a 200 day moving average price of $72.57.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share 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 positive return on equity of 2.52% and a negative net margin of 0.65%.RadNet’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDNT has been the topic of a number of recent research reports. Truist Financial set a $90.00 price target on RadNet in a research report on Wednesday, December 17th. Barclays raised their target price on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. B. Riley raised their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average target price of $90.33.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.