Sterling Capital Management LLC Sells 8,552 Shares of RadNet, Inc. $RDNT

Sterling Capital Management LLC decreased its stake in RadNet, Inc. (NASDAQ:RDNT) by 30.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,711 shares of the medical research company’s stock after selling 8,552 shares during the quarter. Sterling Capital Management LLC’s holdings in RadNet were worth $1,102,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Mairs & Power Inc. lifted its holdings in RadNet by 68.9% during the 3rd quarter. Mairs & Power Inc. now owns 97,483 shares of the medical research company’s stock valued at $7,429,000 after purchasing an additional 39,752 shares during the last quarter. US Bancorp DE grew its stake in RadNet by 485.4% during the third quarter. US Bancorp DE now owns 28,350 shares of the medical research company’s stock worth $2,161,000 after buying an additional 23,507 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of RadNet by 59.4% during the third quarter. Neuberger Berman Group LLC now owns 456,855 shares of the medical research company’s stock worth $34,817,000 after buying an additional 170,261 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of RadNet by 15.5% during the third quarter. Segall Bryant & Hamill LLC now owns 368,934 shares of the medical research company’s stock worth $28,116,000 after buying an additional 49,527 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of RadNet in the fourth quarter valued at approximately $1,118,000. 77.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director David L. Swartz sold 2,699 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total value of $145,449.11. Following the transaction, the director owned 177,013 shares of the company’s stock, valued at $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $276,022.50. Following the completion of the transaction, the chief executive officer owned 69,075 shares in the company, valued at $4,013,948.25. This represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by company insiders.

RadNet Stock Performance

RadNet stock opened at $61.67 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. RadNet, Inc. has a 1 year low of $50.76 and a 1 year high of $85.84. The company has a market cap of $4.85 billion, a PE ratio of -342.59 and a beta of 1.41. The company’s 50-day moving average is $55.97 and its two-hundred day moving average is $63.44.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results 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). The business had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.50) EPS. Equities analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

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

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.