Rockefeller Capital Management L.P. Lowers Position in RadNet, Inc. $RDNT

Rockefeller Capital Management L.P. decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 632,267 shares of the medical research company’s stock after selling 244,799 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.81% of RadNet worth $45,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 350 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RadNet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after purchasing an additional 1,699 shares during the last quarter. Jones Financial Companies Lllp grew its position 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 valued at $85,000 after purchasing an additional 1,448 shares in the last quarter. United Services Automobile Association bought a new stake in shares of RadNet in the first quarter worth about $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of RadNet by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock worth $21,904,000 after purchasing an additional 8,762 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 4,750 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total transaction of $276,022.50. Following the sale, the chief executive officer owned 69,075 shares in the company, valued at approximately $4,013,948.25. This represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays decreased their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RadNet presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $53.74 on Friday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -298.54 and a beta of 1.41. RadNet, Inc. has a 12 month low of $50.76 and a 12 month high of $85.84. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $55.82 and a 200 day moving average price of $64.50.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts predict 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.