Integral Health Asset Management LLC Sells 100,000 Shares of RadNet, Inc. $RDNT

Integral Health Asset Management LLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the medical research company’s stock after selling 100,000 shares during the quarter. RadNet makes up about 1.5% of Integral Health Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. Integral Health Asset Management LLC owned 0.39% of RadNet worth $22,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. iSAM Funds UK Ltd raised its position in RadNet by 98.7% in the 3rd quarter. iSAM Funds UK Ltd now owns 10,273 shares of the medical research company’s stock valued at $783,000 after purchasing an additional 5,104 shares during the last quarter. Comerica Bank boosted its stake in RadNet by 160.3% in the third quarter. Comerica Bank now owns 61,496 shares of the medical research company’s stock worth $4,687,000 after purchasing an additional 37,869 shares in the last quarter. Alpha Wave Global LP grew its holdings in shares of RadNet by 37.6% during the third quarter. Alpha Wave Global LP now owns 533,279 shares of the medical research company’s stock worth $40,641,000 after purchasing an additional 145,802 shares during the last quarter. Glenmede Investment Management LP bought a new stake in shares of RadNet during the third quarter worth $262,000. Finally, Pathstone Holdings LLC increased its stake in shares of RadNet by 13.0% in the third quarter. Pathstone Holdings LLC now owns 59,529 shares of the medical research company’s stock valued at $4,537,000 after buying an additional 6,844 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the subject of a number of research analyst reports. Truist Financial set a $90.00 price target on RadNet in a report on Wednesday, December 17th. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. B. Riley Financial raised their price objective on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. Finally, The Goldman Sachs Group raised shares of RadNet to a “buy” rating in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.43.

RadNet Trading Up 3.9%

RDNT opened at $62.09 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -248.36 and a beta of 1.49. The firm has a 50 day simple moving average of $70.23 and a 200 day simple moving average of $74.06. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The business had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. During the same period in the prior year, the business posted $0.22 earnings per share. RadNet’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

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.