Emerald Advisers LLC Has $21.34 Million Holdings in RadNet, Inc. $RDNT

Emerald Advisers LLC trimmed its holdings in RadNet, Inc. (NASDAQ:RDNT) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381,764 shares of the medical research company’s stock after selling 12,951 shares during the period. Emerald Advisers LLC owned about 0.49% of RadNet worth $21,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RDNT. Mairs & Power Inc. increased its stake in RadNet by 68.9% during the 3rd quarter. Mairs & Power Inc. now owns 97,483 shares of the medical research company’s stock worth $7,429,000 after purchasing an additional 39,752 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new position in RadNet in the fourth quarter valued at approximately $1,118,000. Campbell Newman Asset Management Inc. bought a new position in RadNet in the fourth quarter valued at approximately $1,773,000. Fred Alger Management LLC lifted its stake in RadNet by 50.7% in the third quarter. Fred Alger Management LLC now owns 490,267 shares of the medical research company’s stock valued at $37,363,000 after buying an additional 164,842 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of RadNet in the fourth quarter valued at approximately $756,000. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

RadNet Price Performance

Shares of RDNT opened at $63.31 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a twelve month low of $50.76 and a twelve month high of $85.84. The stock has a market capitalization of $4.98 billion, a P/E ratio of -351.70 and a beta of 1.37. The company has a 50 day moving average of $57.67 and a 200-day moving average of $62.99.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. During the same quarter in the previous year, the company posted ($0.50) EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that RadNet, Inc. will post 0.54 EPS for the current fiscal year.

Insider Transactions at RadNet

In other news, CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total value of $276,022.50. Following the completion of the transaction, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Swartz sold 2,699 shares of RadNet stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the completion of the sale, the director directly owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

About RadNet

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.