Axiom Investors LLC DE Sells 96,631 Shares of RadNet, Inc. $RDNT

Axiom Investors LLC DE cut its holdings in RadNet, Inc. (NASDAQ:RDNT) by 47.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,279 shares of the medical research company’s stock after selling 96,631 shares during the quarter. Axiom Investors LLC DE’s holdings in RadNet were worth $7,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in shares of RadNet by 13.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after purchasing an additional 160 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of RadNet by 3.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,048 shares of the medical research company’s stock worth $360,000 after buying an additional 163 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RadNet by 62.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after buying an additional 171 shares during the last quarter. Guidance Capital Inc. boosted its stake in shares of RadNet by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after buying an additional 174 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of RadNet by 3.7% in the 3rd quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock worth $409,000 after buying an additional 193 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Price Performance

Shares of RadNet stock opened at $56.18 on Wednesday. RadNet, Inc. has a one year low of $50.76 and a one year high of $85.84. The stock’s fifty day moving average is $55.72 and its 200 day moving average is $65.88. The stock has a market cap of $4.42 billion, a P/E ratio of -312.09 and a beta of 1.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $575.63 million during the quarter, compared to the consensus estimate of $557.93 million. During the same period in the prior year, the business posted ($0.50) earnings per share. RadNet’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

RDNT has been the topic of a number of research reports. Barclays dropped their price target on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Jefferies Financial Group restated a “buy” rating and issued a $91.00 price target on shares of RadNet in a research note on Tuesday, March 3rd. Finally, Weiss Ratings downgraded RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.43.

Insider Buying and Selling

In other RadNet 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 sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

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.