Highline Wealth Partners LLC Purchases New Holdings in RadNet, Inc. (NASDAQ:RDNT)

Highline Wealth Partners LLC acquired a new stake in RadNet, Inc. (NASDAQ:RDNT) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 979 shares of the medical research company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Nisa Investment Advisors LLC raised its stake in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares during the period. GAMMA Investing LLC raised its stake in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after buying an additional 370 shares during the period. SG Americas Securities LLC raised its stake in RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares during the period. MQS Management LLC bought a new stake in RadNet in the first quarter valued at approximately $207,000. Finally, Profund Advisors LLC bought a new stake in RadNet in the second quarter valued at approximately $207,000. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RDNT. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group increased their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Truist Financial increased their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.75.

RadNet Trading Down 1.4 %

Shares of RDNT stock opened at $66.76 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. RadNet, Inc. has a fifty-two week low of $26.14 and a fifty-two week high of $72.18. The company has a market cap of $4.93 billion, a PE ratio of 222.53 and a beta of 1.74. The stock’s fifty day moving average price is $66.76 and its two-hundred day moving average price is $60.83.

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

RadNet 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.