RadNet, Inc. $RDNT Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,309 shares of the medical research company’s stock after buying an additional 68,962 shares during the quarter. Bessemer Group Inc. owned 0.58% of RadNet worth $33,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDNT. Penserra Capital Management LLC raised its holdings in RadNet by 43.4% in the third quarter. Penserra Capital Management LLC now owns 479,077 shares of the medical research company’s stock valued at $36,510,000 after acquiring an additional 144,897 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in shares of RadNet by 14,163.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock valued at $62,765,000 after purchasing an additional 817,808 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of RadNet by 32.6% during the third quarter. WCM Investment Management LLC now owns 285,778 shares of the medical research company’s stock worth $21,348,000 after purchasing an additional 70,244 shares during the last quarter. AGF Management Ltd. lifted its position in shares of RadNet by 24.3% during the third quarter. AGF Management Ltd. now owns 166,098 shares of the medical research company’s stock worth $12,658,000 after purchasing an additional 32,461 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RDNT shares. KeyCorp raised RadNet to a “strong-buy” rating in a report on Friday, January 9th. Truist Financial set a $90.00 price objective on RadNet in a research note on Wednesday, December 17th. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, B. Riley boosted their price objective on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.33.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 25,000 shares of RadNet stock in a transaction on Monday, November 17th. The stock was sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the sale, the chief accounting officer owned 205,138 shares of the company’s stock, valued at $15,602,796.28. The trade was a 10.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 50,000 shares of company stock valued at $3,902,254. Corporate insiders own 5.60% of the company’s stock.

RadNet Stock Performance

Shares of RDNT opened at $64.52 on Friday. The firm has a fifty day moving average of $73.90 and a 200-day moving average of $72.76. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -379.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data 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). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The firm had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

RadNet Profile

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.