Polar Capital Holdings Plc Sells 174,163 Shares of RadNet, Inc. $RDNT

Polar Capital Holdings Plc decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 20.9% during the 4th quarter, Holdings Channel reports. The firm owned 658,051 shares of the medical research company’s stock after selling 174,163 shares during the period. Polar Capital Holdings Plc’s holdings in RadNet were worth $46,952,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in RadNet by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after acquiring an additional 95,015 shares in the last quarter. Beck Mack & Oliver LLC boosted its holdings in RadNet by 0.4% in the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock valued at $249,723,000 after acquiring an additional 13,633 shares in the last quarter. State Street Corp boosted its holdings in RadNet by 1.6% in the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock valued at $184,017,000 after acquiring an additional 41,356 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RadNet by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,671,543 shares of the medical research company’s stock valued at $119,283,000 after acquiring an additional 6,655 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in RadNet by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 1,413,734 shares of the medical research company’s stock valued at $107,741,000 after acquiring an additional 19,182 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ:RDNT opened at $56.51 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.44 billion, a P/E ratio of -313.93 and a beta of 1.41. The firm’s fifty day simple moving average is $55.92 and its 200 day simple moving average is $64.99. RadNet, Inc. has a twelve month low of $50.76 and a twelve month high of $85.84.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data 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 firm had revenue of $575.63 million for the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a negative net margin of 0.66% and a positive return on equity of 2.77%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.50) EPS. As a group, research analysts predict that RadNet, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on RDNT. Jefferies Financial Group reiterated a “buy” rating and issued a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. Barclays cut their price target on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Finally, Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently 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.