Rathbones Group PLC Sells 15,678 Shares of RadNet, Inc. $RDNT

Rathbones Group PLC lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 27.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 41,328 shares of the medical research company’s stock after selling 15,678 shares during the quarter. Rathbones Group PLC’s holdings in RadNet were worth $2,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RDNT. Geneos Wealth Management Inc. purchased a new stake in shares of RadNet during the 4th quarter valued at $25,000. Allworth Financial LP lifted its holdings in shares of RadNet by 346.6% during the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Danske Bank A S purchased a new stake in shares of RadNet during the 3rd quarter valued at $30,000. Jones Financial Companies Lllp lifted its holdings in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 171 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of RadNet during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RDNT. Barclays decreased their price objective on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Weiss Ratings lowered RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

Insider Buying and Selling at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of RadNet stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

RadNet Stock Performance

NASDAQ RDNT opened at $54.40 on Friday. The stock has a 50-day simple moving average of $57.40 and a two-hundred day simple moving average of $67.94. The firm has a market capitalization of $4.28 billion, a P/E ratio of -302.21 and a beta of 1.43. RadNet, Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $85.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17.

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

RadNet 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.