Hsbc Holdings PLC Sells 2,740 Shares of RadNet, Inc. (NASDAQ:RDNT)

Hsbc Holdings PLC trimmed its stake in RadNet, Inc. (NASDAQ:RDNT) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,134 shares of the medical research company’s stock after selling 2,740 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of RadNet worth $571,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RDNT. SummerHaven Investment Management LLC bought a new stake in shares of RadNet in the 4th quarter valued at approximately $528,000. JPMorgan Chase & Co. lifted its stake in shares of RadNet by 113.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 384,061 shares of the medical research company’s stock valued at $5,688,000 after purchasing an additional 204,363 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of RadNet by 333.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 214,025 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 164,599 shares during the last quarter. BlackRock Inc. lifted its stake in shares of RadNet by 2.5% in the 4th quarter. BlackRock Inc. now owns 6,540,626 shares of the medical research company’s stock valued at $128,000,000 after purchasing an additional 156,933 shares during the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in shares of RadNet by 4.3% in the 4th quarter. Beck Mack & Oliver LLC now owns 2,027,466 shares of the medical research company’s stock valued at $39,678,000 after purchasing an additional 82,851 shares during the last quarter. 67.46% of the stock is owned by institutional investors and hedge funds.

Separately, Raymond James raised their price objective on RadNet from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, March 15th.

In other RadNet news, SVP Ruth Louisa Villigerwilson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $22.97, for a total transaction of $57,425.00. Following the transaction, the senior vice president now directly owns 31,914 shares in the company, valued at approximately $733,064.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John V. Crues sold 10,000 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $23.82, for a total value of $238,200.00. Following the transaction, the director now owns 435,262 shares in the company, valued at $10,367,940.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,500 shares of company stock worth $2,027,575. Company insiders own 5.77% of the company’s stock.

Shares of NASDAQ RDNT opened at $21.37 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.69 and a current ratio of 0.69. The business’s 50 day moving average price is $21.12 and its 200-day moving average price is $18.81. RadNet, Inc. has a fifty-two week low of $10.66 and a fifty-two week high of $25.49. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -101.76 and a beta of 1.52.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Sunday, March 7th. The medical research company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). RadNet had a negative return on equity of 2.72% and a negative net margin of 0.98%. The business had revenue of $308.50 million during the quarter, compared to analysts’ expectations of $300.62 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts predict that RadNet, Inc. will post -0.15 earnings per share for the current year.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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