Maryland State Retirement & Pension System Has $758,000 Position in RadNet, Inc. $RDNT

Maryland State Retirement & Pension System cut its position in RadNet, Inc. (NASDAQ:RDNT) by 48.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,952 shares of the medical research company’s stock after selling 9,452 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RadNet were worth $758,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of RadNet by 5.4% in the first quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $1,956,000 after acquiring an additional 1,699 shares during the last quarter. Jones Financial Companies Lllp increased its position in RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares during the period. United Services Automobile Association bought a new position in shares of RadNet during the first quarter valued at $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of RadNet by 2.0% during 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 period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Trading Up 2.2%

NASDAQ RDNT opened at $72.00 on Thursday. The stock has a market capitalization of $5.55 billion, a P/E ratio of -423.50 and a beta of 1.51. The business has a 50 day simple moving average of $75.94 and a 200 day simple moving average of $71.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. RadNet, Inc. has a one year low of $45.00 and a one year high of $85.84.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The business had revenue of $522.87 million for the quarter, compared to the consensus estimate of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.RadNet’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. Research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDNT. KeyCorp upgraded RadNet to a “strong-buy” rating in a report on Friday, January 9th. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research report on Tuesday, December 16th. Barclays increased their price target on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 25,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $76.06, for a total value of $1,901,500.00. Following the completion of the sale, the chief accounting officer directly owned 205,138 shares in the company, valued at approximately $15,602,796.28. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 50,000 shares of company stock worth $3,902,254 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

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.