UBS Group AG Lowers Position in RadNet, Inc. $RDNT

UBS Group AG trimmed its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,438 shares of the medical research company’s stock after selling 31,344 shares during the period. UBS Group AG owned about 0.41% of RadNet worth $22,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new stake in shares of RadNet in the 4th quarter worth approximately $25,000. Allworth Financial LP raised its stake in RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Danske Bank A S purchased a new stake in RadNet during the third quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in RadNet by 1,086.5% during the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RDNT shares. Barclays reduced their price target on RadNet from $86.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued 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 company presently has an average rating of “Moderate Buy” and an average target price of $88.14.

RadNet Trading Down 3.9%

RadNet stock opened at $55.90 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $4.38 billion, a PE ratio of -223.60 and a beta of 1.43. The stock has a 50-day moving average of $59.70 and a two-hundred day moving average of $69.50. RadNet, Inc. has a one year low of $50.76 and a one year high of $85.84.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.47). The company had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.50) EPS. On average, research analysts anticipate that RadNet, Inc. will post 0.62 EPS for the current fiscal year.

Insider Transactions at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the transaction, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

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.