Thrivent Financial for Lutherans Has $3.25 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Thrivent Financial for Lutherans decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,198 shares of the medical research company’s stock after selling 1,365 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of RadNet worth $3,252,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 291 shares in the last quarter. Excalibur Management Corp purchased a new stake in shares of RadNet during the second quarter valued at approximately $236,000. Finally, MQS Management LLC bought a new stake in RadNet during the first quarter worth $207,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RDNT. Jefferies Financial Group increased their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Truist Financial increased their target price on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RadNet currently has an average rating of “Moderate Buy” and an average target price of $74.75.

RadNet Trading Up 0.4 %

NASDAQ RDNT opened at $69.33 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $63.78 and its two-hundred day simple moving average is $57.59. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $71.92. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 231.10 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm 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 period in the prior year, the business posted $0.24 earnings per share. Research analysts forecast that RadNet, Inc. will post 0.6 EPS for the current fiscal year.

RadNet 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.