Keybank National Association OH Sells 12,947 Shares of RadNet, Inc. $RDNT

Keybank National Association OH lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 45.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,778 shares of the medical research company’s stock after selling 12,947 shares during the period. Keybank National Association OH’s holdings in RadNet were worth $1,126,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of RadNet during the 4th quarter valued at about $25,000. Allworth Financial LP lifted its holdings in shares of RadNet by 346.6% during the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares in the last quarter. Danske Bank A S bought a new position in shares of RadNet during the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 402 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the company’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 transaction of $932,250.00. Following the sale, the insider owned 1,208,923 shares in the company, valued at $75,134,564.45. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the topic of several recent analyst reports. Barclays cut their price objective on RadNet from $86.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a “buy” rating and set a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. KeyCorp upgraded RadNet to a “strong-buy” rating in a report on Friday, January 9th. Finally, UBS Group set a $92.00 price objective on RadNet in a report on Friday, January 9th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.14.

RadNet Trading Up 0.5%

NASDAQ RDNT opened at $56.85 on Friday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of -227.40 and a beta of 1.44. The stock’s 50 day moving average price is $60.89 and its two-hundred day moving average price is $70.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76. RadNet, Inc. has a 52 week low of $50.76 and a 52 week high of $85.84.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $547.71 million for the quarter, compared to analysts’ expectations of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, analysts anticipate that RadNet, Inc. will post 0.64 earnings per share for the current fiscal year.

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.