E. Ohman J or Asset Management AB Has $3.02 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

E. Ohman J or Asset Management AB lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 4.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 43,558 shares of the medical research company’s stock after selling 2,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in RadNet were worth $3,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the last quarter. GAMMA Investing LLC grew its holdings in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the period. SG Americas Securities LLC grew its holdings in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the period. MQS Management LLC acquired a new position in shares of RadNet in the 1st quarter valued at about $207,000. Finally, Profund Advisors LLC acquired a new position in RadNet in the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Price Performance

RDNT stock opened at $66.24 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The business has a 50-day simple moving average of $66.55 and a two-hundred day simple moving average of $60.28. The company has a market capitalization of $4.89 billion, a P/E ratio of 220.80 and a beta of 1.74. RadNet, Inc. has a 52-week low of $25.11 and a 52-week high of $72.18.

RadNet (NASDAQ:RDNT) last announced its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Research analysts expect that RadNet, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial raised their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Jefferies Financial Group boosted their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.12% of the company’s stock.

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.