Polar Capital Holdings Plc Lowers Stock Position in RadNet, Inc. $RDNT

Polar Capital Holdings Plc reduced its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 658,051 shares of the medical research company’s stock after selling 174,163 shares during the period. Polar Capital Holdings Plc owned about 0.85% of RadNet worth $46,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in RadNet during the fourth quarter valued at approximately $25,000. Allworth Financial LP grew its position in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 305 shares during the last quarter. Danske Bank A S bought a new position in RadNet during the third quarter valued at approximately $30,000. Jones Financial Companies Lllp grew its position in RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in RadNet during the fourth quarter valued at approximately $36,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Down 0.9%

Shares of RadNet stock opened at $56.51 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17. RadNet, Inc. has a 52-week low of $50.76 and a 52-week high of $85.84. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -313.93 and a beta of 1.41. The company’s 50 day moving average price is $55.92 and its 200-day moving average price is $64.99.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm had revenue of $575.63 million during the quarter, compared to the consensus estimate of $557.93 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts forecast that RadNet, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on RDNT shares. Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. 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. Finally, Barclays reduced their price target on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and a consensus price target of $87.43.

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.