RadNet, Inc. $RDNT Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 38.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,280 shares of the medical research company’s stock after selling 26,414 shares during the period. First Light Asset Management LLC owned approximately 0.05% of RadNet worth $3,222,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Beck Mack & Oliver LLC increased its stake in RadNet by 0.4% in the 3rd quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after purchasing an additional 13,633 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in RadNet by 1.4% during the third quarter. Ameriprise Financial Inc. now owns 1,413,734 shares of the medical research company’s stock valued at $107,741,000 after buying an additional 19,182 shares in the last quarter. Creative Planning boosted its holdings in shares of RadNet by 37.7% in the third quarter. Creative Planning now owns 33,859 shares of the medical research company’s stock worth $2,580,000 after buying an additional 9,267 shares during the period. Freestone Grove Partners LP acquired a new position in shares of RadNet in the third quarter worth about $20,527,000. Finally, Deerfield Management Company L.P. increased its position in shares of RadNet by 2,550.3% in the third quarter. Deerfield Management Company L.P. now owns 39,913 shares of the medical research company’s stock worth $3,042,000 after acquiring an additional 38,407 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RDNT has been the topic of a number of recent analyst reports. B. Riley Financial boosted their price target on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a report on Monday, December 1st. Truist Financial set a $90.00 price objective on shares of RadNet in a research report on Wednesday, December 17th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. UBS Group set a $92.00 target price on RadNet in a research report on Friday, January 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $62.09 on Monday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -248.36 and a beta of 1.49. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. 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 business has a fifty day simple moving average of $70.23 and a 200 day simple moving average of $74.11.

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