RadNet, Inc. $RDNT Shares Sold by Rathbones Group PLC

Rathbones Group PLC lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,006 shares of the medical research company’s stock after selling 12,500 shares during the period. Rathbones Group PLC’s holdings in RadNet were worth $4,344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RDNT. Natixis Advisors LLC lifted its stake in RadNet by 23.4% during the 3rd quarter. Natixis Advisors LLC now owns 36,962 shares of the medical research company’s stock valued at $2,817,000 after acquiring an additional 7,014 shares during the period. Rhenman & Partners Asset Management AB increased its stake in shares of RadNet by 8.7% in the third quarter. Rhenman & Partners Asset Management AB now owns 50,000 shares of the medical research company’s stock worth $3,810,000 after acquiring an additional 4,000 shares during the period. First Trust Advisors LP acquired a new stake in shares of RadNet in the third quarter worth $219,000. Neo Ivy Capital Management raised its holdings in shares of RadNet by 412.8% during the third quarter. Neo Ivy Capital Management now owns 7,892 shares of the medical research company’s stock worth $601,000 after purchasing an additional 6,353 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of RadNet by 59.4% during the third quarter. Neuberger Berman Group LLC now owns 456,855 shares of the medical research company’s stock worth $34,817,000 after purchasing an additional 170,261 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RDNT. Jefferies Financial Group reaffirmed a “buy” rating and issued a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. Truist Financial set a $90.00 price objective on RadNet in a research note on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th. Finally, B. Riley Financial raised their target price on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

RadNet Stock Down 9.0%

RDNT opened at $60.69 on Monday. The company has a fifty day moving average of $71.26 and a two-hundred day moving average of $74.42. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -242.76 and a beta of 1.49. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The business had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

RadNet Profile

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.