F m Investments LLC Trims Stock Holdings in RadNet, Inc. $RDNT

Key Points

• F m Investments LLC cut its RadNet stake by 57.8% in the fourth quarter, selling 21,293 shares and leaving it with 15,548 shares worth about $1.11 million.
• RadNet reported better-than-expected quarterly results, posting EPS of $0.23 versus the $0.19 consensus and revenue of $547.71 million, up 14.8% year over year.
• Analysts remain mostly positive on the stock, with a Moderate Buy consensus and an average price target of $88.14, though Barclays recently lowered its target to $70.00.

F m Investments LLC trimmed its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 57.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,548 shares of the medical research company's stock after selling 21,293 shares during the period. F m Investments LLC's holdings in RadNet were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in RadNet in the 4th quarter valued at approximately $25,000. Allworth Financial LP grew its stake in RadNet by 346.6% in the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company's stock valued at $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 approximately $30,000. Farther Finance Advisors LLC grew its stake in RadNet by 1,086.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company's stock valued at $33,000 after buying an additional 402 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in RadNet by 62.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company's stock valued at $34,000 after buying an additional 171 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RadNet

In other news, insider Alma Gregory Sorensen sold 15,000 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the transaction, the insider directly owned 1,208,923 shares in the company, valued at $75,134,564.45. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by company insiders.

RadNet Price Performance

RDNT opened at $58.19 on Monday. The company has a fifty day moving average price of $60.26 and a 200-day moving average price of $69.81. The firm has a market capitalization of $4.55 billion, a P/E ratio of -232.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76. RadNet, Inc. has a one year low of $50.76 and a one year high of $85.84.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $547.71 million during the quarter, compared to analyst estimates of $515.67 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The business's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. Equities research analysts expect that RadNet, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on RDNT shares. Jefferies Financial Group reiterated a "buy" rating and issued a $91.00 price objective on shares of RadNet in a research note on Tuesday, March 3rd. Barclays reduced their price objective on shares of RadNet from $86.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $88.14.

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.

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