Van Berkom & Associates Inc. Grows Stake in RadNet, Inc. $RDNT

Van Berkom & Associates Inc. increased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 14,163.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 823,582 shares of the medical research company’s stock after purchasing an additional 817,808 shares during the period. Van Berkom & Associates Inc. owned 1.07% of RadNet worth $62,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after acquiring an additional 171 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet in the second quarter worth approximately $35,000. Salomon & Ludwin LLC purchased a new stake in shares of RadNet during the third quarter worth approximately $37,000. Finally, State of Wyoming acquired a new position in RadNet in the 2nd quarter valued at $58,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Barclays raised their price target on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a report on Tuesday, December 16th. Finally, UBS Group set a $92.00 target price on shares of RadNet in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.33.

Insider Activity

In related news, CAO Mital Patel sold 15,080 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $80.05, for a total value of $1,207,154.00. Following the sale, the chief accounting officer directly owned 180,138 shares in the company, valued at approximately $14,420,046.90. The trade was a 7.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 50,000 shares of company stock worth $3,902,254. 5.60% of the stock is currently owned by company insiders.

RadNet Stock Down 1.1%

Shares of NASDAQ RDNT opened at $70.11 on Wednesday. The company has a market capitalization of $5.41 billion, a P/E ratio of -412.39 and a beta of 1.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The company has a 50 day simple moving average of $74.57 and a 200-day simple moving average of $72.85. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84.

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 the consensus estimate of $0.23 by ($0.03). The business had revenue of $522.87 million during the quarter, compared to analysts’ expectations of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current year.

About RadNet

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.