MetLife Investment Advisors LLC cut its stake in RadNet Inc. (NASDAQ:RDNT) by 34.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,044 shares of the medical research company’s stock after selling 11,105 shares during the period. MetLife Investment Advisors LLC’s holdings in RadNet were worth $214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Belpointe Asset Management LLC raised its holdings in RadNet by 1.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 83,365 shares of the medical research company’s stock valued at $1,255,000 after acquiring an additional 1,500 shares in the last quarter. Northern Trust Corp raised its holdings in RadNet by 0.3% in the 4th quarter. Northern Trust Corp now owns 518,399 shares of the medical research company’s stock valued at $5,272,000 after acquiring an additional 1,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in RadNet by 157.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 2,218 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of RadNet during the 4th quarter worth $36,000. Finally, United Services Automobile Association raised its holdings in shares of RadNet by 22.8% during the 4th quarter. United Services Automobile Association now owns 21,117 shares of the medical research company’s stock worth $215,000 after buying an additional 3,917 shares in the last quarter. 63.80% of the stock is owned by hedge funds and other institutional investors.
Shares of RadNet stock opened at $12.24 on Friday. The company has a market capitalization of $612.87 million, a PE ratio of 18.55, a P/E/G ratio of 4.76 and a beta of 1.18. RadNet Inc. has a 52 week low of $9.97 and a 52 week high of $16.54. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.87 and a quick ratio of 0.87.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.18 by $0.41. The firm had revenue of $257.21 million during the quarter, compared to the consensus estimate of $248.21 million. RadNet had a return on equity of 27.51% and a net margin of 3.31%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) earnings per share. On average, equities research analysts predict that RadNet Inc. will post 0.34 earnings per share for the current fiscal year.
A number of research firms have recently commented on RDNT. TheStreet raised RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Saturday, March 16th. BidaskClub raised RadNet from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. Raymond James cut RadNet from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $17.50 in a report on Friday, March 15th. They noted that the move was a valuation call. Finally, ValuEngine downgraded RadNet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. RadNet currently has a consensus rating of “Hold” and an average price target of $17.75.
In related news, Director David L. Swartz sold 11,556 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $14.72, for a total transaction of $170,104.32. Following the completion of the sale, the director now directly owns 265,855 shares of the company’s stock, valued at $3,913,385.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Md Sherman sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.89, for a total value of $277,800.00. Following the sale, the director now directly owns 279,720 shares of the company’s stock, valued at $3,885,310.80. The disclosure for this sale can be found here. Insiders have sold 46,556 shares of company stock valued at $672,754 over the last ninety days. 7.56% of the stock is currently owned by company insiders.
RadNet Company Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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