Ellsworth Advisors LLC Invests $741,000 in RadNet, Inc. $RDNT

Ellsworth Advisors LLC acquired a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,158 shares of the medical research company’s stock, valued at approximately $741,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Allworth Financial LP increased its position in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Danske Bank A S acquired a new position in RadNet in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 402 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of RadNet during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $54.79 on Friday. The stock’s 50 day moving average price is $66.11 and its 200 day moving average price is $72.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -219.16 and a beta of 1.53. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.84.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The company had revenue of $547.71 million during the quarter, compared to the consensus estimate of $515.67 million. During the same period in the prior year, the company earned $0.22 EPS. RadNet’s revenue was up 14.8% on a year-over-year basis. Equities research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RDNT shares. Jefferies Financial Group reissued a “buy” rating and issued a $91.00 price objective on shares of RadNet in a research report on Tuesday, March 3rd. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a report on Tuesday, December 16th. UBS Group set a $92.00 price target on RadNet in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Finally, KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.43.

Insider Transactions at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of RadNet stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the transaction, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

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.