RadNet, Inc. $RDNT Shares Sold by UBS Group AG

UBS Group AG decreased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 9.0% in the fourth quarter, HoldingsChannel reports. The firm owned 315,438 shares of the medical research company’s stock after selling 31,344 shares during the quarter. UBS Group AG’s holdings in RadNet were worth $22,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in RadNet during the 4th quarter worth approximately $25,000. Allworth Financial LP boosted its holdings in shares of RadNet by 346.6% in the 3rd 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 acquired a new stake in shares of RadNet in the third quarter worth $30,000. Farther Finance Advisors LLC increased its stake in shares of RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after acquiring an additional 402 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $91.00 target price on shares of RadNet in a research report on Tuesday, March 3rd. Barclays reduced their price objective on RadNet from $86.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.14.

RadNet Trading Down 3.9%

RDNT stock opened at $55.90 on Tuesday. RadNet, Inc. has a 52-week low of $50.76 and a 52-week high of $85.84. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The firm has a market cap of $4.38 billion, a P/E ratio of -223.60 and a beta of 1.43. The company’s 50-day simple moving average is $59.70 and its 200-day simple moving average is $69.50.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.47). The business had revenue of $575.63 million during the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. RadNet’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.50) EPS. As a group, equities analysts forecast that RadNet, Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity at RadNet

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares in the company, valued at $75,134,564.45. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is owned by company insiders.

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.