Rathbones Group PLC Sells 12,500 Shares of RadNet, Inc. $RDNT

Rathbones Group PLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,006 shares of the medical research company’s stock after selling 12,500 shares during the quarter. Rathbones Group PLC owned about 0.07% of RadNet worth $4,344,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RDNT. WCM Investment Management LLC raised its stake in shares of RadNet by 32.6% during the 3rd quarter. WCM Investment Management LLC now owns 285,778 shares of the medical research company’s stock worth $21,348,000 after acquiring an additional 70,244 shares in the last quarter. Castleark Management LLC boosted its stake in RadNet by 241.7% in the second quarter. Castleark Management LLC now owns 96,203 shares of the medical research company’s stock valued at $5,475,000 after acquiring an additional 68,050 shares in the last quarter. Norges Bank acquired a new stake in RadNet in the second quarter valued at approximately $31,051,000. Penserra Capital Management LLC grew its holdings in RadNet by 43.4% in the third quarter. Penserra Capital Management LLC now owns 479,077 shares of the medical research company’s stock worth $36,510,000 after purchasing an additional 144,897 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in RadNet by 53.1% in the third quarter. New York State Teachers Retirement System now owns 30,855 shares of the medical research company’s stock worth $2,351,000 after purchasing an additional 10,700 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Down 9.0%

NASDAQ RDNT opened at $60.69 on Monday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.84. The company has a fifty day simple moving average of $71.26 and a two-hundred day simple moving average of $74.42. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.71 billion, a P/E ratio of -242.76 and a beta of 1.49.

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 analysts’ consensus estimates 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 firm had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RDNT. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. Barclays upped their target price on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th. Finally, Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two investment 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

About RadNet

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.