Excalibur Management Corp Buys Shares of 4,000 RadNet, Inc. (NASDAQ:RDNT)

Excalibur Management Corp bought a new position in shares of RadNet, Inc. (NASDAQ:RDNT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,000 shares of the medical research company’s stock, valued at approximately $236,000.

Several other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in shares of RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after buying an additional 751 shares during the period. GAMMA Investing LLC grew its stake in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the period. Assetmark Inc. increased its holdings in shares of RadNet by 35.2% in the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after acquiring an additional 829 shares in the last quarter. SG Americas Securities LLC raised its position in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the period. Finally, MQS Management LLC bought a new position in shares of RadNet during the 1st quarter valued at about $207,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Down 2.6 %

NASDAQ RDNT opened at $66.02 on Tuesday. RadNet, Inc. has a 52 week low of $25.11 and a 52 week high of $69.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The stock’s 50 day moving average price is $62.26 and its two-hundred day moving average price is $56.24. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 220.07 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. As a group, analysts anticipate that RadNet, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RDNT. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Truist Financial increased their price objective on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group raised their price objective on shares of RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

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.