SG Americas Securities LLC Purchases 17,711 Shares of RadNet, Inc. $RDNT

SG Americas Securities LLC boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 195.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,766 shares of the medical research company’s stock after purchasing an additional 17,711 shares during the period. SG Americas Securities LLC’s holdings in RadNet were worth $2,040,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in RadNet in the second quarter worth $35,000. Salomon & Ludwin LLC bought a new stake in RadNet in the third quarter worth $37,000. State of Wyoming purchased a new stake in RadNet during the second quarter valued at about $58,000. Finally, Family Legacy Financial Solutions LLC bought a new position in shares of RadNet during the second quarter valued at about $85,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Price Performance

Shares of RDNT stock opened at $72.90 on Thursday. 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 fifty-two week low of $45.00 and a fifty-two week high of $85.84. The firm has a market cap of $5.62 billion, a P/E ratio of -428.80 and a beta of 1.51. The business’s 50 day moving average price is $76.61 and its 200-day moving average price is $71.25.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RDNT shares. B. Riley boosted their target price on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. KeyCorp raised RadNet to a “strong-buy” rating in a research note on Friday, January 9th. Barclays raised their target price on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, UBS Group set a $92.00 price target on shares of RadNet in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

Insider Activity at RadNet

In other news, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the sale, the chief accounting officer owned 180,138 shares of the company’s stock, valued at approximately $14,420,046.90. The trade was a 7.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 50,000 shares of company stock valued at $3,902,254. Company insiders own 5.60% of the company’s stock.

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.