Sterling Capital Management LLC Sells 8,552 Shares of RadNet, Inc. $RDNT

Sterling Capital Management LLC lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,711 shares of the medical research company’s stock after selling 8,552 shares during the quarter. Sterling Capital Management LLC’s holdings in RadNet were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RDNT. RTW Investments LP boosted its holdings in RadNet by 39.9% during the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock valued at $281,012,000 after acquiring an additional 1,122,956 shares during the period. Polar Capital Holdings Plc bought a new position in shares of RadNet in the third quarter worth about $63,423,000. Price T Rowe Associates Inc. MD lifted its position in shares of RadNet by 30.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock worth $192,581,000 after purchasing an additional 627,936 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in RadNet by 79.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after purchasing an additional 618,392 shares during the period. Finally, Defiance ETFs LLC bought a new stake in RadNet during the 4th quarter valued at approximately $37,019,000. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 4.0%

Shares of RDNT opened at $61.67 on Wednesday. The stock’s 50-day moving average price is $55.97 and its 200 day moving average price is $63.44. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of -342.59 and a beta of 1.41. RadNet, Inc. has a 12-month low of $50.76 and a 12-month high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $575.63 million during the quarter, compared to the consensus estimate of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.RadNet’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.50) EPS. As a group, research analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

RDNT has been the topic of several recent analyst reports. Barclays dropped their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Jefferies Financial Group restated a “buy” rating and issued a $91.00 price objective on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Weiss Ratings lowered shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.43.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $53.89, for a total value of $145,449.11. Following the completion of the transaction, the director owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total transaction of $276,022.50. Following the transaction, the chief executive officer directly owned 69,075 shares of the company’s stock, valued at $4,013,948.25. The trade was a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by company insiders.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.