RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 273,438 shares of the medical research company’s stock after selling 39,388 shares during the quarter. Hsbc Holdings PLC owned 0.37% of RadNet worth $16,235,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RadNet by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock valued at $60,646,000 after acquiring an additional 71,714 shares in the last quarter. Principal Financial Group Inc. raised its holdings in RadNet by 11.8% in the first quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company’s stock valued at $70,211,000 after acquiring an additional 152,305 shares in the last quarter. Hood River Capital Management LLC boosted its stake in RadNet by 7.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,071,129 shares of the medical research company’s stock valued at $52,121,000 after acquiring an additional 77,244 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its holdings in RadNet by 16.2% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock worth $49,630,000 after acquiring an additional 141,830 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial increased their target price on RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price target on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and a consensus target price of $72.25.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $69.34 on Monday. The company has a market cap of $5.12 billion, a PE ratio of 231.13 and a beta of 1.74. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $70.37. The firm has a 50-day simple moving average of $63.03 and a 200 day simple moving average of $56.85. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.58 EPS for the current year.

RadNet Profile

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.