Keybank National Association OH Has $2.19 Million Stock Position in RadNet, Inc. $RDNT

Keybank National Association OH reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 69.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,725 shares of the medical research company’s stock after selling 64,311 shares during the period. Keybank National Association OH’s holdings in RadNet were worth $2,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RDNT. Castleark Management LLC increased its holdings in shares of RadNet by 241.7% in the second quarter. Castleark Management LLC now owns 96,203 shares of the medical research company’s stock valued at $5,475,000 after purchasing an additional 68,050 shares in the last quarter. Norges Bank acquired a new stake in shares of RadNet in the 2nd quarter valued at $31,051,000. Praxis Investment Management Inc. bought a new stake in shares of RadNet during the second quarter worth $225,000. New York State Teachers Retirement System lifted its stake in shares of RadNet by 53.1% during the third quarter. New York State Teachers Retirement System now owns 30,855 shares of the medical research company’s stock valued at $2,351,000 after acquiring an additional 10,700 shares during the period. Finally, D.A. Davidson & CO. bought a new position in RadNet in the third quarter valued at about $5,226,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on RDNT. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Zacks Research downgraded shares of RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a report on Tuesday, December 16th. Barclays raised their price objective on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, RadNet has a consensus rating of “Moderate Buy” and an average price target of $90.33.

Insider Buying and Selling at RadNet

In related news, CAO Mital Patel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $76.06, for a total value of $1,901,500.00. Following the completion of the transaction, the chief accounting officer directly owned 205,138 shares in the company, valued at approximately $15,602,796.28. The trade was a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 50,000 shares of company stock worth $3,902,254. Insiders own 5.60% of the company’s stock.

RadNet Trading Up 1.1%

Shares of NASDAQ RDNT opened at $70.87 on Tuesday. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $85.84. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -416.86 and a beta of 1.49. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average is $74.82 and its 200-day moving average is $72.77.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. RadNet’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. Equities research analysts predict that RadNet, Inc. will post 0.56 EPS 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.