RadNet, Inc. $RDNT Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its position in RadNet, Inc. (NASDAQ:RDNT) by 30.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 65,271 shares of the medical research company’s stock after selling 28,088 shares during the quarter. First Trust Advisors LP’s holdings in RadNet were worth $3,648,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in RadNet during the 4th quarter worth $25,000. Allworth Financial LP lifted its holdings in RadNet by 346.6% in the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Danske Bank A S purchased a new position in RadNet in the 3rd quarter valued at about $30,000. Eurizon Capital SGR S.p.A. purchased a new position in RadNet in the 4th quarter valued at about $36,000. Finally, Harbour Investments Inc. acquired a new stake in shares of RadNet during the fourth quarter valued at about $42,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RadNet

In related news, 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 transaction of $276,022.50. Following the transaction, the chief executive officer directly owned 69,075 shares in the company, valued at $4,013,948.25. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 2,699 shares of RadNet stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the transaction, the director directly owned 177,013 shares of the company’s stock, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.14% of the company’s stock.

RadNet Trading Down 3.1%

Shares of NASDAQ RDNT opened at $67.06 on Thursday. 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’s 50 day moving average price is $60.36 and its two-hundred day moving average price is $61.67. RadNet, Inc. has a 52-week low of $50.76 and a 52-week high of $85.84. The stock has a market capitalization of $5.27 billion, a P/E ratio of -372.53 and a beta of 1.36.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays dropped 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. Jefferies Financial Group reissued a “buy” rating on shares of RadNet in a report on Friday, July 31st. Zacks Research lowered RadNet from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

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.