Thompson Davis & CO. Inc. Reduces Position in RadNet, Inc. $RDNT

Thompson Davis & CO. Inc. trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 22.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,425 shares of the medical research company’s stock after selling 1,300 shares during the period. Thompson Davis & CO. Inc.’s holdings in RadNet were worth $252,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RDNT. American Century Companies Inc. boosted its position in shares of RadNet by 507.9% during the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock valued at $63,290,000 after buying an additional 1,063,516 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of RadNet by 81.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company’s stock worth $82,417,000 after acquiring an additional 743,922 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in RadNet by 141.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company’s stock valued at $60,404,000 after acquiring an additional 712,270 shares during the period. Nuveen LLC purchased a new position in RadNet during the 1st quarter valued at $27,422,000. Finally, Ameriprise Financial Inc. grew its position in RadNet by 180.6% in the 1st quarter. Ameriprise Financial Inc. now owns 776,160 shares of the medical research company’s stock valued at $38,593,000 after acquiring an additional 499,534 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RDNT shares. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Barclays raised their price target on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of RadNet in a research note on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of RadNet in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

RadNet Stock Down 1.3%

Shares of RadNet stock opened at $73.46 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -367.28 and a beta of 1.58. The firm’s 50-day moving average is $76.52 and its two-hundred day moving average is $65.10. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.42.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The business had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 65,598 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $67.50, for a total transaction of $4,427,865.00. Following the completion of the sale, the insider owned 138,198 shares in the company, valued at $9,328,365. This represents a 32.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total value of $2,586,150.00. Following the completion of the transaction, the executive vice president owned 68,012 shares in the company, valued at $5,025,406.68. This represents a 33.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 118,098 shares of company stock worth $8,269,445. 5.60% of the stock is currently owned by corporate insiders.

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.