Calamos Advisors LLC Trims Position in RadNet, Inc. $RDNT

Calamos Advisors LLC decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 19.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,164 shares of the medical research company’s stock after selling 7,740 shares during the period. Calamos Advisors LLC’s holdings in RadNet were worth $1,774,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RDNT. Headlands Technologies LLC purchased a new stake in RadNet during the 1st quarter valued at approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of RadNet in the 2nd quarter valued at approximately $35,000. Family Legacy Financial Solutions LLC acquired a new position in shares of RadNet in the second quarter valued at approximately $85,000. Jones Financial Companies Lllp raised its stake in shares of RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after purchasing an additional 1,448 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of RadNet by 41.5% during the second quarter. GAMMA Investing LLC now owns 2,327 shares of the medical research company’s stock worth $132,000 after purchasing an additional 683 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the topic of a number of analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price objective (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Zacks Research upgraded shares of RadNet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Barclays raised their price objective on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $80.00.

RadNet Stock Performance

Shares of RDNT opened at $73.46 on Friday. The company has a 50-day simple moving average of $76.52 and a 200-day simple moving average of $65.10. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.65 billion, a PE ratio of -367.28 and a beta of 1.58. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $85.42.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. During the same period in the prior year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts predict that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In related news, COO Norman R. Hames sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $72.74, for a total value of $727,400.00. Following the sale, the chief operating officer owned 239,183 shares in the company, valued at $17,398,171.42. This represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total value of $36,065.00. Following the completion of the transaction, the chief executive officer directly owned 53,495 shares of the company’s stock, valued at $3,858,594.35. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 118,098 shares of company stock worth $8,269,445 over the last quarter. Insiders own 5.60% of the company’s stock.

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.