Rockefeller Capital Management L.P. Sells 244,799 Shares of RadNet, Inc. $RDNT

Rockefeller Capital Management L.P. reduced its position in RadNet, Inc. (NASDAQ:RDNT) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 632,267 shares of the medical research company’s stock after selling 244,799 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in RadNet were worth $45,112,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of RadNet by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after buying an additional 95,015 shares during the last quarter. RTW Investments LP raised its holdings in shares of RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after buying an additional 1,122,956 shares during the period. Beck Mack & Oliver LLC lifted its stake in shares of RadNet by 0.4% during the 3rd quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after acquiring an additional 13,633 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of RadNet by 30.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock worth $192,581,000 after acquiring an additional 627,936 shares during the last quarter. Finally, State Street Corp boosted its holdings in RadNet by 1.6% during the 4th quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock valued at $184,017,000 after acquiring an additional 41,356 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $53.74 on Friday. RadNet, Inc. has a 52-week low of $50.76 and a 52-week high of $85.84. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -298.54 and a beta of 1.41. The stock has a 50 day moving average price of $55.82 and a 200 day moving average price of $64.50. 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 (NASDAQ:RDNT) last released its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) 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 for the quarter, compared to analysts’ expectations of $557.93 million. During the same quarter in the previous year, the business earned ($0.50) earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts expect that RadNet, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Barclays decreased their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $91.00 target price on shares of RadNet in a research note on Tuesday, March 3rd. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

Insider Activity at RadNet

In other news, CEO Cornelis Wesdorp sold 4,750 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total transaction of $276,022.50. Following the transaction, the chief executive officer owned 69,075 shares in the company, valued at approximately $4,013,948.25. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

RadNet Profile

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.