Y Intercept Hong Kong Ltd Sells 13,169 Shares of RadNet, Inc. $RDNT

Y Intercept Hong Kong Ltd decreased its stake in RadNet, Inc. (NASDAQ:RDNT) by 74.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,502 shares of the medical research company’s stock after selling 13,169 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in RadNet were worth $256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beck Mack & Oliver LLC boosted its stake in RadNet by 6.9% during the first quarter. Beck Mack & Oliver LLC now owns 3,280,449 shares of the medical research company’s stock worth $163,104,000 after buying an additional 211,570 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 6.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,801,559 shares of the medical research company’s stock worth $100,203,000 after acquiring an additional 112,284 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RadNet by 81.4% in 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. American Century Companies Inc. boosted its stake in shares of RadNet by 507.9% during the 1st quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company’s stock worth $63,290,000 after purchasing an additional 1,063,516 shares during the period. Finally, Alyeska Investment Group L.P. grew 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 purchasing an additional 712,270 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 0.8%

Shares of NASDAQ:RDNT opened at $78.31 on Friday. The business’s 50 day moving average is $76.08 and its 200 day moving average is $64.46. The stock has a market cap of $6.02 billion, a P/E ratio of -391.53 and a beta of 1.58. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last issued its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business had revenue of $498.23 million during the quarter, compared to analysts’ expectations of $488.06 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts predict that RadNet, Inc. will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on RDNT shares. Zacks Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target (up from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. Morgan Stanley raised RadNet to an “overweight” rating in a research report on Monday, August 11th. Finally, Barclays increased their target price on RadNet from $60.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, RadNet presently has a consensus rating of “Buy” and an average target price of $76.80.

Insider Buying and Selling

In other news, COO Norman R. Hames sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $72.74, for a total value of $727,400.00. Following the completion of the sale, the chief operating officer owned 239,183 shares of the company’s stock, valued at approximately $17,398,171.42. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the transaction, the executive vice president directly owned 68,012 shares in the company, valued at approximately $5,025,406.68. The trade was a 33.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 135,098 shares of company stock valued at $9,430,715 over the last quarter. 5.60% of the stock is owned by company 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.