Emerald Mutual Fund Advisers Trust Reduces Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Emerald Mutual Fund Advisers Trust lessened its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.8% during the 3rd quarter, Holdings Channel reports. The fund owned 508,516 shares of the medical research company’s stock after selling 20,029 shares during the period. RadNet comprises approximately 1.8% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 8th largest position. Emerald Mutual Fund Advisers Trust’s holdings in RadNet were worth $35,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $68,000. Nisa Investment Advisors LLC boosted its position in shares of RadNet by 321.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the medical research company’s stock worth $248,000 after purchasing an additional 2,727 shares in the last quarter. Modera Wealth Management LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $313,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $389,000. Finally, Highland Capital Management LLC acquired a new stake in shares of RadNet in the 3rd quarter worth $215,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Insider Buying and Selling at RadNet

In other RadNet 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 transaction of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $66.54 on Friday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 475.29 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The business has a fifty day moving average of $66.88 and a 200 day moving average of $61.12. RadNet, Inc. has a 1 year low of $26.68 and a 1 year high of $72.18.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, research analysts expect that RadNet, Inc. will post 0.59 earnings per share for the current year.

About RadNet

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.