Calamos Advisors LLC Lowers Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Calamos Advisors LLC lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 31.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,881 shares of the medical research company’s stock after selling 27,328 shares during the quarter. Calamos Advisors LLC owned approximately 0.09% of RadNet worth $2,082,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in RadNet by 84.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 493 shares during the last quarter. UBS Group AG grew its stake in shares of RadNet by 48.8% during the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock valued at $54,000 after buying an additional 867 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock worth $59,000 after buying an additional 2,217 shares during the last quarter. Assetmark Inc. raised its position in shares of RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after buying an additional 801 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of RadNet in the 3rd quarter worth $69,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RadNet Price Performance

RDNT stock opened at $46.52 on Monday. The firm has a market cap of $3.19 billion, a P/E ratio of -2,324.84 and a beta of 1.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. RadNet, Inc. has a 1 year low of $25.11 and a 1 year high of $49.94. The stock has a 50-day simple moving average of $44.81 and a 200-day simple moving average of $37.40.

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