RadNet, Inc. $RDNT Shares Sold by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. lowered its holdings in RadNet, Inc. (NASDAQ:RDNT) by 30.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 488,169 shares of the medical research company’s stock after selling 214,589 shares during the quarter. RadNet accounts for about 2.1% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 21st biggest position. Global Alpha Capital Management Ltd. owned about 0.63% of RadNet worth $34,831,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RDNT. Polar Capital Holdings Plc purchased a new position in shares of RadNet in the third quarter valued at $63,423,000. Ameriprise Financial Inc. boosted its stake in shares of RadNet by 79.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock worth $79,364,000 after purchasing an additional 618,392 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in RadNet in the 3rd quarter valued at about $40,073,000. Norges Bank purchased a new stake in RadNet in the 4th quarter valued at about $32,159,000. Finally, Alyeska Investment Group L.P. grew its holdings in RadNet by 34.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,152,293 shares of the medical research company’s stock valued at $87,816,000 after buying an additional 296,392 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In related news, insider Alma Gregory Sorensen sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the transaction, the insider owned 1,208,923 shares of the company’s stock, valued at $75,134,564.45. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings cut RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $91.00 target price on shares of RadNet in a research report on Tuesday, March 3rd. Finally, Barclays cut their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

RadNet Price Performance

Shares of RDNT opened at $54.34 on Friday. RadNet, Inc. has a 12 month low of $50.76 and a 12 month high of $85.84. The company has a market cap of $4.27 billion, a P/E ratio of -301.87 and a beta of 1.41. The stock has a fifty day moving average price of $55.82 and a 200 day moving average price of $66.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business had revenue of $575.63 million during the quarter, compared to the consensus estimate of $557.93 million. During the same period in the previous year, the company posted ($0.50) EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts forecast that RadNet, Inc. will post 0.54 earnings per share for the current year.

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.