Louisiana State Employees Retirement System Makes New Investment in RadNet, Inc. (NASDAQ:RDNT)

Louisiana State Employees Retirement System bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 30,200 shares of the medical research company’s stock, valued at approximately $1,050,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of RadNet by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,222,234 shares of the medical research company’s stock worth $119,025,000 after acquiring an additional 143,295 shares in the last quarter. Invesco Ltd. grew its stake in shares of RadNet by 12.5% during the 3rd quarter. Invesco Ltd. now owns 1,471,687 shares of the medical research company’s stock worth $41,487,000 after acquiring an additional 163,380 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of RadNet by 16.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,157,361 shares of the medical research company’s stock worth $32,626,000 after acquiring an additional 163,364 shares in the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of RadNet by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,045,704 shares of the medical research company’s stock worth $29,478,000 after acquiring an additional 9,151 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of RadNet during the 3rd quarter worth approximately $18,477,000. 77.90% of the stock is owned by institutional investors.

RadNet Trading Down 0.3 %

RDNT stock opened at $48.67 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. The company has a fifty day moving average price of $45.42 and a two-hundred day moving average price of $37.74. RadNet, Inc. has a one year low of $25.11 and a one year high of $49.94. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -2,432.28 and a beta of 1.69.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The firm had revenue of $420.38 million during the quarter, compared to analysts’ expectations of $410.11 million. During the same period in the previous year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts anticipate that RadNet, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RDNT shares. Truist Financial reissued a “buy” rating and issued a $55.00 target price (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Jefferies Financial Group raised their target price on shares of RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays started coverage on shares of RadNet in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 target price for the company.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.