Raymond James Financial Services Advisors Inc. Buys 4,350 Shares of RadNet, Inc. (NASDAQ:RDNT)

Raymond James Financial Services Advisors Inc. raised its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 38.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,727 shares of the medical research company’s stock after acquiring an additional 4,350 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in RadNet were worth $547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of RadNet by 84.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock worth $27,000 after purchasing an additional 493 shares during the period. UBS Group AG lifted its stake in shares of RadNet by 48.8% in the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock worth $54,000 after purchasing an additional 867 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of RadNet by 180.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after purchasing an additional 2,217 shares during the period. Assetmark Inc. lifted its stake in shares of RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after purchasing an additional 801 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of RadNet in the 3rd quarter worth approximately $69,000. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 0.4 %

RadNet stock opened at $47.61 on Friday. The firm has a 50 day moving average of $44.40 and a 200 day moving average of $37.07. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -2,379.31 and a beta of 1.69. RadNet, Inc. has a 12-month low of $25.11 and a 12-month high of $49.94. 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 earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same period in the prior year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that RadNet, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.