JB Capital Partners LP Decreases Holdings in RadNet, Inc. $RDNT

JB Capital Partners LP lowered its holdings in RadNet, Inc. (NASDAQ:RDNT) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,424,061 shares of the medical research company’s stock after selling 50,000 shares during the period. RadNet makes up 18.4% of JB Capital Partners LP’s investment portfolio, making the stock its largest position. JB Capital Partners LP’s holdings in RadNet were worth $108,528,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 402 shares during the last quarter. Jones Financial Companies Lllp increased its position 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 purchasing an additional 171 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in RadNet in the third quarter valued at approximately $37,000. State of Wyoming purchased a new stake in RadNet in the second quarter valued at approximately $58,000. Finally, Abich Financial Wealth Management LLC bought a new stake in RadNet during the third quarter valued at approximately $63,000. Institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Truist Financial set a $90.00 price objective on shares of RadNet in a report on Wednesday, December 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 target price on shares of RadNet in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, RadNet has an average rating of “Moderate Buy” and an average target price of $90.43.

RadNet Stock Up 3.9%

Shares of NASDAQ RDNT opened at $62.09 on Monday. The stock has a market capitalization of $4.82 billion, a P/E ratio of -248.36 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 firm’s 50 day simple moving average is $70.23 and its two-hundred day simple moving average is $74.11. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, topping 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 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. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal 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.