RadNet, Inc. $RDNT Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 71.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,147 shares of the medical research company’s stock after acquiring an additional 10,089 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RadNet were worth $1,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Polar Capital Holdings Plc acquired a new position in RadNet during the third quarter worth about $63,423,000. Van Berkom & Associates Inc. boosted its position in RadNet by 14,163.6% during the third quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock worth $62,765,000 after acquiring an additional 817,808 shares during the last quarter. Ameriprise Financial Inc. boosted its position in RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after acquiring an additional 618,392 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in RadNet during the third quarter worth about $40,073,000. Finally, Alyeska Investment Group L.P. increased its position in RadNet by 34.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,152,293 shares of the medical research company’s stock worth $87,816,000 after purchasing an additional 296,392 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of RadNet stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares in the company, valued at $75,134,564.45. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RDNT has been the subject of several recent analyst reports. Barclays cut their price objective on shares of RadNet from $86.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $91.00 price objective on shares of RadNet in a research report on Tuesday, March 3rd. UBS Group set a $92.00 price objective on shares of RadNet in a research report on Friday, January 9th. Finally, KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

RadNet Price Performance

RadNet stock opened at $57.89 on Wednesday. RadNet, Inc. has a 12-month low of $50.15 and a 12-month high of $85.84. The stock has a market cap of $4.53 billion, a P/E ratio of -231.56 and a beta of 1.53. The company has a 50-day moving average price of $61.48 and a 200 day moving average price of $70.44. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share 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 business had revenue of $547.71 million during the quarter, compared to analysts’ expectations of $515.67 million. During the same period last year, the business earned $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 anticipate that RadNet, Inc. will post 0.67 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.