BNP Paribas Financial Markets Boosts Position in RadNet, Inc. $RDNT

BNP Paribas Financial Markets grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 668.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,506 shares of the medical research company’s stock after buying an additional 101,343 shares during the period. BNP Paribas Financial Markets owned 0.15% of RadNet worth $8,313,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RDNT. Polar Capital Holdings Plc purchased a new position in shares of RadNet during the third quarter valued at approximately $63,423,000. Ameriprise Financial Inc. increased its stake in shares of RadNet by 79.7% during the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after buying an additional 618,392 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of RadNet during the third quarter valued at approximately $40,073,000. Norges Bank bought a new stake in shares of RadNet during the fourth quarter valued at approximately $32,159,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of RadNet by 34.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,152,293 shares of the medical research company’s stock valued at $87,816,000 after purchasing an additional 296,392 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RadNet

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares in the company, valued at $75,134,564.45. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is owned by corporate insiders.

RadNet Trading Up 3.7%

RadNet stock opened at $56.18 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The business’s fifty day simple moving average is $55.72 and its two-hundred day simple moving average is $65.88. RadNet, Inc. has a 12 month low of $50.76 and a 12 month high of $85.84. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -312.09 and a beta of 1.41.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company had revenue of $575.63 million during the quarter, compared to the consensus estimate of $557.93 million. During the same period last year, the firm posted ($0.50) earnings per share. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on RDNT. Weiss Ratings lowered RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Finally, Barclays dropped their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

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.