Mirae Asset Global Investments Co. Ltd. boosted its position in RadNet, Inc. (NASDAQ:RDNT – Get Rating) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,583 shares of the medical research company’s stock after purchasing an additional 1,655 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in RadNet were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in RDNT. Edmond DE Rothschild Holding S.A. lifted its stake in RadNet by 18.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,560,450 shares of the medical research company’s stock worth $48,213,000 after purchasing an additional 391,060 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in RadNet by 22.0% in the third quarter. Point72 Asset Management L.P. now owns 1,811,974 shares of the medical research company’s stock worth $36,874,000 after purchasing an additional 326,274 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in RadNet by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,694,224 shares of the medical research company’s stock worth $34,477,000 after purchasing an additional 275,742 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in RadNet by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 598,627 shares of the medical research company’s stock worth $13,391,000 after purchasing an additional 214,004 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in RadNet by 2.0% in the third quarter. BlackRock Inc. now owns 6,632,696 shares of the medical research company’s stock worth $134,977,000 after purchasing an additional 131,886 shares during the last quarter. Institutional investors own 68.27% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. CJS Securities assumed coverage on shares of RadNet in a research note on Friday, March 31st. They set an “outperform” rating and a $30.00 price target for the company. Raymond James raised shares of RadNet from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Friday, March 3rd. Finally, StockNews.com assumed coverage on shares of RadNet in a research note on Thursday, May 18th. They set a “hold” rating for the company.
RadNet Stock Performance
RadNet (NASDAQ:RDNT – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $371.34 million. RadNet had a positive return on equity of 3.28% and a negative net margin of 0.90%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS. As a group, equities analysts forecast that RadNet, Inc. will post 0.28 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Christine Nayoma Gordon sold 4,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.34, for a total value of $138,412.56. Following the completion of the transaction, the director now owns 13,385 shares of the company’s stock, valued at $379,330.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is currently owned by insiders.
About RadNet
RadNet, Inc provides freestanding, fixed-site outpatient diagnostic imaging services in the United States. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The firm offers magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures.
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