RadNet, Inc. (NASDAQ:RDNT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 265,803 shares of the medical research company’s stock after selling 15,749 shares during the quarter. New York State Common Retirement Fund owned about 0.39% of RadNet worth $9,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RDNT. Assetmark Inc. boosted its holdings in RadNet by 51.6% in the third quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after purchasing an additional 801 shares during the period. TIAA Trust National Association acquired a new stake in RadNet during the third quarter worth about $208,000. MQS Management LLC acquired a new stake in RadNet during the third quarter worth about $209,000. Stratos Wealth Partners LTD. acquired a new position in RadNet in the third quarter valued at approximately $237,000. Finally, Beverly Hills Private Wealth LLC bought a new position in shares of RadNet during the fourth quarter valued at approximately $243,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RDNT shares. Barclays began coverage on RadNet in a report on Wednesday, March 6th. They set an “equal weight” rating and a $48.00 price target on the stock. Jefferies Financial Group boosted their price target on RadNet from $47.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial restated a “buy” rating and set a $55.00 price objective (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Finally, StockNews.com lowered shares of RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th.

RadNet Trading Up 4.0 %

Shares of RDNT stock opened at $50.45 on Thursday. The stock has a 50-day simple moving average of $46.50 and a 200 day simple moving average of $38.42. The stock has a market capitalization of $3.73 billion, a P/E ratio of -2,521.24 and a beta of 1.69. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $50.57. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.00.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that RadNet, Inc. will post 0.35 earnings per share for the current fiscal year.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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.