RadNet, Inc. (RDNT) Holdings Trimmed by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,227 shares of the medical research company’s stock after selling 6,520 shares during the quarter. Rhumbline Advisers’ holdings in RadNet were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDNT. JPMorgan Chase & Co. increased its position in RadNet by 85.7% during the third quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock worth $5,795,000 after buying an additional 232,524 shares during the last quarter. Beck Mack & Oliver LLC increased its position in RadNet by 60.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 352,916 shares of the medical research company’s stock worth $3,564,000 after buying an additional 133,515 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in RadNet by 83.2% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 186,900 shares of the medical research company’s stock worth $2,157,000 after buying an additional 84,900 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in RadNet during the third quarter worth approximately $946,000. Finally, Swiss National Bank acquired a new position in RadNet during the fourth quarter worth approximately $651,000. 55.82% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, EVP Michael N. Murdock sold 38,333 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $13.06, for a total transaction of $500,628.98. Following the completion of the sale, the executive vice president now owns 107,242 shares in the company, valued at $1,400,580.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the insider now owns 922,001 shares of the company’s stock, valued at approximately $12,068,993.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,927 shares of company stock valued at $1,405,852. Corporate insiders own 9.36% of the company’s stock.

A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. FIX assumed coverage on RadNet in a research report on Wednesday, March 14th. They set a “strong-buy” rating and a $15.00 price target on the stock. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Jefferies Group set a $14.00 price target on RadNet and gave the stock a “buy” rating in a research report on Thursday, March 8th. Finally, Raymond James Financial assumed coverage on RadNet in a research report on Wednesday, March 14th. They set a “strong-buy” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Strong Buy” and an average target price of $14.75.

Shares of NASDAQ:RDNT opened at $14.40 on Monday. RadNet, Inc. has a 12-month low of $5.65 and a 12-month high of $14.55. The company has a market cap of $694.54, a PE ratio of 49.66, a PEG ratio of 3.33 and a beta of 0.39. The company has a debt-to-equity ratio of 8.22, a current ratio of 1.23 and a quick ratio of 1.23.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, March 8th. The medical research company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). RadNet had a return on equity of 26.01% and a net margin of 0.01%. The firm had revenue of $235.50 million for the quarter, compared to the consensus estimate of $228.46 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. sell-side analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.

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About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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