RadNet, Inc. (NASDAQ:RDNT) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in RadNet, Inc. (NASDAQ:RDNT) by 23.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,399 shares of the medical research company’s stock after selling 2,853 shares during the quarter. ProShare Advisors LLC’s holdings in RadNet were worth $554,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RDNT. Hsbc Holdings PLC boosted its stake in shares of RadNet by 13.8% during the 4th quarter. Hsbc Holdings PLC now owns 242,160 shares of the medical research company’s stock worth $8,487,000 after acquiring an additional 29,372 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in RadNet in the fourth quarter valued at $264,000. RTW Investments LP purchased a new position in shares of RadNet in the fourth quarter valued at $23,073,000. SG Capital Management LLC raised its stake in shares of RadNet by 389.5% during the 4th quarter. SG Capital Management LLC now owns 85,425 shares of the medical research company’s stock worth $2,970,000 after buying an additional 67,974 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of RadNet by 3.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 61,447 shares of the medical research company’s stock worth $2,136,000 after buying an additional 2,272 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Up 0.1 %

RDNT opened at $69.39 on Tuesday. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $71.92. The business has a 50-day moving average of $63.78 and a two-hundred day moving average of $57.68. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 231.30 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. RadNet’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. On average, research analysts expect that RadNet, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Truist Financial increased their target price on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

RadNet Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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.