Cerity Partners LLC Invests $5.87 Million in RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 168,864 shares of the medical research company’s stock, valued at approximately $5,871,000. Cerity Partners LLC owned approximately 0.24% of RadNet as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RDNT. Point72 Asset Management L.P. raised its holdings in shares of RadNet by 278.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,066,295 shares of the medical research company’s stock worth $67,403,000 after buying an additional 1,520,695 shares in the last quarter. BlackRock Inc. raised its holdings in shares of RadNet by 17.0% during the 2nd quarter. BlackRock Inc. now owns 8,053,427 shares of the medical research company’s stock worth $262,703,000 after buying an additional 1,170,999 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of RadNet during the 3rd quarter worth $18,477,000. Wellington Management Group LLP acquired a new position in shares of RadNet during the 3rd quarter worth $17,534,000. Finally, Emerald Advisers LLC acquired a new position in shares of RadNet during the 3rd quarter worth $12,503,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the topic of a number of research reports. Truist Financial restated a “buy” rating and set a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research report on Thursday, March 28th. Jefferies Financial Group boosted their price objective on RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays initiated coverage on RadNet in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price objective on the stock. Finally, StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th.

RadNet Trading Up 0.2 %

NASDAQ RDNT opened at $47.89 on Wednesday. The business’s 50-day moving average price is $43.94 and its two-hundred day moving average price is $36.86. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $49.94. The firm has a market capitalization of $3.28 billion, a PE ratio of -2,393.30 and a beta of 1.69. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.00.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The firm had revenue of $420.38 million for the quarter, compared to analyst estimates of $410.11 million. During the same quarter in the previous year, the company posted $0.11 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that RadNet, Inc. will post 0.35 EPS for the current year.

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.