RadNet, Inc. $RDNT Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC decreased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 33.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 226,669 shares of the medical research company’s stock after selling 114,686 shares during the quarter. Portolan Capital Management LLC’s holdings in RadNet were worth $17,274,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RDNT. AQR Capital Management LLC increased its stake in RadNet by 5.4% during the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in RadNet by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after buying an additional 1,699 shares during the period. Jones Financial Companies Lllp boosted its position in RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after buying an additional 1,448 shares during the period. United Services Automobile Association acquired a new position in shares of RadNet in the first quarter worth $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of RadNet by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock worth $21,904,000 after acquiring an additional 8,762 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Up 3.9%

Shares of NASDAQ RDNT opened at $62.09 on Friday. The business has a 50-day moving average of $70.23 and a two-hundred day moving average of $74.06. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -248.36 and a beta of 1.49. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The business had revenue of $547.71 million for the quarter, compared to the consensus estimate of $515.67 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RDNT shares. Truist Financial set a $90.00 price objective on RadNet in a research note on Wednesday, December 17th. B. Riley Financial boosted their target price on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Jefferies Financial Group restated a “buy” rating and set a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. KeyCorp raised RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.43.

RadNet Company 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.