RadNet, Inc. (NASDAQ:RDNT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in RadNet, Inc. (NASDAQ:RDNT) by 85.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,346 shares of the medical research company’s stock after selling 19,121 shares during the quarter. SG Americas Securities LLC’s holdings in RadNet were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in RadNet by 3.5% in the third quarter. Vanguard Group Inc. now owns 4,222,234 shares of the medical research company’s stock valued at $119,025,000 after purchasing an additional 143,295 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in RadNet by 273.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,175 shares of the medical research company’s stock worth $1,668,000 after acquiring an additional 43,324 shares during the last quarter. Wellington Management Group LLP acquired a new stake in RadNet during the third quarter worth about $17,534,000. Comerica Bank acquired a new stake in RadNet during the third quarter worth about $785,000. Finally, The Manufacturers Life Insurance Company increased its stake in RadNet by 46.0% during the third quarter. The Manufacturers Life Insurance Company now owns 29,348 shares of the medical research company’s stock worth $827,000 after acquiring an additional 9,244 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Down 0.4 %

Shares of RDNT opened at $47.61 on Friday. The company has a market capitalization of $3.26 billion, a P/E ratio of -2,393.30 and a beta of 1.69. RadNet, Inc. has a one year low of $25.11 and a one year high of $49.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50-day moving average price of $44.40 and a 200 day moving average price of $37.07.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. RadNet’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. Sell-side analysts forecast that RadNet, Inc. will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays assumed coverage on RadNet in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price target for the company. Jefferies Financial Group increased their target price on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. StockNews.com lowered RadNet from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $55.00 target price (up previously from $51.00) on shares of RadNet in a research note on Thursday, March 28th.

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.