Vanguard Group Inc. Sells 20,768 Shares of RadNet, Inc. $RDNT

Vanguard Group Inc. trimmed its stake in RadNet, Inc. (NASDAQ:RDNT) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,463,101 shares of the medical research company’s stock after selling 20,768 shares during the period. Vanguard Group Inc. owned approximately 0.10% of RadNet worth $532,492,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RDNT. Polar Capital Holdings Plc bought a new position in shares of RadNet in the third quarter worth approximately $63,423,000. Van Berkom & Associates Inc. increased its position in shares of RadNet by 14,163.6% in the third quarter. Van Berkom & Associates Inc. now owns 823,582 shares of the medical research company’s stock worth $62,765,000 after purchasing an additional 817,808 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of RadNet by 79.7% in the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after purchasing an additional 618,392 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of RadNet in the third quarter worth approximately $40,073,000. Finally, Alyeska Investment Group L.P. grew its position in RadNet by 34.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,152,293 shares of the medical research company’s stock valued at $87,816,000 after acquiring an additional 296,392 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Up 2.5%

Shares of NASDAQ RDNT opened at $58.26 on Tuesday. RadNet, Inc. has a one year low of $50.76 and a one year high of $85.84. 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 firm’s 50 day simple moving average is $60.89 and its two-hundred day simple moving average is $70.20. The stock has a market capitalization of $4.56 billion, a P/E ratio of -233.04 and a beta of 1.43.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $547.71 million for the quarter, compared to analysts’ expectations of $515.67 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that RadNet, Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the transaction, the insider owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the topic of a number of recent research reports. Barclays reduced their price target on shares of RadNet from $86.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. UBS Group set a $92.00 price target on shares of 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 research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned 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, RadNet currently has an average rating of “Moderate Buy” and an average target price of $88.14.

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.