RadNet, Inc. $RDNT Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.9% during the first quarter, HoldingsChannel reports. The firm owned 301,812 shares of the medical research company’s stock after selling 15,660 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in RadNet were worth $16,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDNT. Geneos Wealth Management Inc. purchased a new position in shares of RadNet during the fourth quarter worth $25,000. Allworth Financial LP grew its position in RadNet by 346.6% during the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S acquired a new stake in RadNet during the 3rd quarter worth about $30,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of RadNet during the 4th quarter valued at about $36,000. Finally, Harbour Investments Inc. purchased a new position in shares of RadNet during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RDNT. Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a report on Friday. Barclays decreased their price objective on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Finally, Zacks Research cut RadNet from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, RadNet has an average rating of “Moderate Buy” and a consensus price target of $87.43.

RadNet Stock Performance

RDNT opened at $63.78 on Friday. RadNet, Inc. has a twelve month low of $50.76 and a twelve month high of $85.84. The firm has a market capitalization of $5.02 billion, a PE ratio of -354.31 and a beta of 1.37. 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 firm’s 50-day moving average price is $59.54 and its 200 day moving average price is $61.89.

RadNet (NASDAQ:RDNT) last released its earnings results 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 business had revenue of $575.63 million during the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business earned ($0.50) earnings per share. As a group, sell-side analysts expect that RadNet, Inc. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other RadNet news, CEO Cornelis Wesdorp sold 4,750 shares of the business’s 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 transaction, the chief executive officer owned 69,075 shares of the company’s stock, valued at approximately $4,013,948.25. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David L. Swartz sold 2,699 shares of the company’s 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 sale, the director owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. The trade was a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.60% of the company’s stock.

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.