US Bancorp DE Increases Stock Position in RadNet, Inc. $RDNT

US Bancorp DE boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 485.4% during the third quarter, Holdings Channel reports. The firm owned 28,350 shares of the medical research company’s stock after acquiring an additional 23,507 shares during the quarter. US Bancorp DE’s holdings in RadNet were worth $2,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 13.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after acquiring an additional 160 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares in the last quarter. Guidance Capital Inc. increased its position in RadNet by 2.0% during the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock valued at $758,000 after purchasing an additional 174 shares during the period. Zions Bancorporation National Association UT raised its holdings in RadNet by 0.6% in the 2nd quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company’s stock worth $1,996,000 after purchasing an additional 204 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of RadNet by 1.2% in the 2nd quarter. Amalgamated Bank now owns 18,820 shares of the medical research company’s stock worth $1,071,000 after purchasing an additional 224 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $71.33 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.87 and a current ratio of 1.76. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -285.32 and a beta of 1.49. RadNet, Inc. has a one year low of $45.00 and a one year high of $85.84. The company’s 50-day moving average is $71.64 and its 200 day moving average is $74.42.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The firm had revenue of $547.71 million for the quarter, compared to analysts’ expectations of $515.67 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the subject of a number of research reports. Barclays increased their price target on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. The Goldman Sachs Group raised RadNet to a “buy” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.43.

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.