TD Asset Management Inc Increases Position in RadNet, Inc. $RDNT

TD Asset Management Inc boosted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 24.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,648 shares of the medical research company’s stock after purchasing an additional 10,366 shares during the period. TD Asset Management Inc’s holdings in RadNet were worth $4,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RDNT. Farther Finance Advisors LLC raised its position in shares of RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 402 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of 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 buying an additional 171 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in RadNet in the third quarter valued at $37,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in RadNet during the 2nd quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC bought a new position in RadNet during the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Down 3.5%

RadNet stock opened at $72.58 on Wednesday. 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 one year low of $45.00 and a one year high of $85.84. The company has a 50-day simple moving average of $71.67 and a 200-day simple moving average of $74.45. The firm has a market capitalization of $5.60 billion, a P/E ratio of -290.32 and a beta of 1.49.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share (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 2.60%. The firm had revenue of $547.71 million during the quarter, compared to analyst estimates of $515.67 million. During the same period in the previous year, the business posted $0.22 EPS. RadNet’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. KeyCorp raised RadNet to a “strong-buy” rating in a report on Friday, January 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 price target on shares of RadNet in a report on Tuesday. Finally, The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, RadNet presently has an average rating of “Moderate Buy” and an average target price of $90.43.

RadNet Company 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.