RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in RadNet, Inc. (NASDAQ:RDNT) by 11.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,202 shares of the medical research company’s stock after selling 6,501 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in RadNet were worth $3,076,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RDNT. RTW Investments LP acquired a new position in shares of RadNet in the 4th quarter worth $23,073,000. SG Capital Management LLC grew its holdings in shares of RadNet by 389.5% during the fourth quarter. SG Capital Management LLC now owns 85,425 shares of the medical research company’s stock valued at $2,970,000 after buying an additional 67,974 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of RadNet by 3.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 771,662 shares of the medical research company’s stock valued at $26,831,000 after buying an additional 27,311 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of RadNet by 16.9% during the fourth quarter. Wellington Management Group LLP now owns 727,172 shares of the medical research company’s stock valued at $25,284,000 after buying an additional 105,164 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of RadNet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock valued at $147,937,000 after buying an additional 32,483 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.12% of the company’s stock.

RadNet Trading Down 2.3 %

Shares of NASDAQ RDNT opened at $67.67 on Friday. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 225.57 and a beta of 1.74. The business has a 50 day simple moving average of $64.21 and a 200 day simple moving average of $58.17. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. RadNet, Inc. has a 52 week low of $25.11 and a 52 week high of $71.92.

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

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.