WCM Investment Management LLC Grows Stake in RadNet, Inc. $RDNT

WCM Investment Management LLC increased its position in RadNet, Inc. (NASDAQ:RDNT) by 32.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,778 shares of the medical research company’s stock after acquiring an additional 70,244 shares during the period. WCM Investment Management LLC’s holdings in RadNet were worth $21,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RDNT. AGF Management Ltd. increased its position in shares of RadNet by 24.3% during the 3rd quarter. AGF Management Ltd. now owns 166,098 shares of the medical research company’s stock valued at $12,658,000 after purchasing an additional 32,461 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares during the last quarter. Mutual Advisors LLC raised its position in RadNet by 55.6% in the third quarter. Mutual Advisors LLC now owns 6,187 shares of the medical research company’s stock worth $513,000 after acquiring an additional 2,210 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of RadNet by 2.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 49,941 shares of the medical research company’s stock worth $3,806,000 after acquiring an additional 1,391 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of RadNet by 253.5% during the 3rd quarter. AlphaQuest LLC now owns 5,673 shares of the medical research company’s stock worth $432,000 after acquiring an additional 4,068 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RDNT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. The Goldman Sachs Group raised RadNet to a “buy” rating in a research note on Tuesday, December 16th. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. UBS Group set a $92.00 price target on shares of RadNet in a research report on Friday, January 9th. Finally, Truist Financial set a $90.00 target price on shares of RadNet in a report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.33.

RadNet Stock Up 1.1%

Shares of RDNT stock opened at $70.87 on Tuesday. The company’s fifty day simple moving average is $74.82 and its two-hundred day simple moving average is $72.77. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The stock has a market cap of $5.47 billion, a P/E ratio of -416.86 and a beta of 1.49. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $80.05, for a total value of $1,207,154.00. Following the sale, the chief accounting officer owned 180,138 shares of the company’s stock, valued at $14,420,046.90. The trade was a 7.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $3,902,254. Insiders own 5.60% of the company’s stock.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.