RadNet, Inc. $RDNT Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its stake in RadNet, Inc. (NASDAQ:RDNT) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,999 shares of the medical research company’s stock after buying an additional 50,690 shares during the period. Bessemer Group Inc.’s holdings in RadNet were worth $35,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in shares of RadNet by 13.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after buying an additional 160 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of RadNet by 3.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,048 shares of the medical research company’s stock valued at $360,000 after buying an additional 163 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of RadNet by 62.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares during the last quarter. Guidance Capital Inc. grew its position in shares of RadNet by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock valued at $758,000 after buying an additional 174 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of RadNet by 3.7% in the 3rd quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock valued at $409,000 after buying an additional 193 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RDNT shares. Barclays dropped their target price on shares of RadNet from $86.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $91.00 target price on shares of RadNet in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, RadNet has an average rating of “Moderate Buy” and an average price target of $88.14.

RadNet Stock Down 1.9%

Shares of NASDAQ:RDNT opened at $52.39 on Friday. The stock has a market cap of $4.12 billion, a P/E ratio of -291.04 and a beta of 1.43. The firm has a fifty day moving average price of $58.22 and a 200 day moving average price of $68.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.76. RadNet, Inc. has a 1-year low of $50.76 and a 1-year high of $85.84.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The business had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.50) EPS. Sell-side analysts predict that RadNet, Inc. will post 0.66 EPS for the current year.

Insiders Place Their Bets

In related news, insider Alma Gregory Sorensen sold 15,000 shares of the stock in a transaction on 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 owned 1,208,923 shares in the company, valued at $75,134,564.45. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by corporate insiders.

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.