State of Alaska Department of Revenue Sells 12,042 Shares of RadNet, Inc. $RDNT

State of Alaska Department of Revenue decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 43.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 15,572 shares of the medical research company’s stock after selling 12,042 shares during the quarter. State of Alaska Department of Revenue’s holdings in RadNet were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDNT. BlackRock Inc. purchased a new stake in RadNet in the second quarter valued at $675,768,000. JB Capital Partners LP purchased a new position in shares of RadNet during the 2nd quarter worth $87,821,842. Dimensional Fund Advisors LP grew its holdings in shares of RadNet by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,379,003 shares of the medical research company’s stock worth $77,074,000 after purchasing an additional 19,188 shares during the period. Bamco Inc. NY purchased a new position in shares of RadNet during the 2nd quarter worth $77,765,000. Finally, Van Berkom & Associates Inc. grew its holdings in shares of RadNet by 24.9% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock worth $57,488,000 after purchasing an additional 204,858 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 0.5%

Shares of NASDAQ RDNT opened at $69.65 on Wednesday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 157.43 and a beta of 1.41. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. RadNet, Inc. has a 52-week low of $50.82 and a 52-week high of $85.84. The business’s 50 day moving average is $73.23 and its two-hundred day moving average is $64.12.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Monday, August 10th. The medical research company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%. The company had revenue of $622.72 million for the quarter, compared to analysts’ expectations of $610.87 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. Research analysts predict that RadNet, Inc. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

RDNT has been the subject of a number of recent analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a research report on Friday, July 31st. Zacks Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research note on Friday, August 7th. Finally, Truist Financial lifted their price target on shares of RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $90.00.

RadNet Company Profile

RadNet, Inc (NASDAQ: RDNT) is an outpatient diagnostic imaging company that operates imaging centers and provides related healthcare services. Its facilities offer diagnostic radiology and imaging procedures used to help detect, diagnose, and monitor medical conditions.

The company’s services generally include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray, and other imaging procedures. RadNet also provides image-guided and interventional radiology services in selected markets, along with digital imaging, radiology, and information-technology solutions.

Founded in 1981, RadNet serves patients, physicians, hospitals, and other healthcare organizations through a network of outpatient imaging centers primarily located in the United States, including markets in California, New York, New Jersey, Maryland, and Delaware.