RadNet, Inc. $RDNT Shares Sold by Portolan Capital Management LLC

Key Points

• Portolan Capital cut its RadNet stake by 33.6% in Q3, selling 114,686 shares and retaining 226,669 shares (about 0.29% of the company) valued at roughly $17.27 million.
• RadNet beat expectations last quarter with EPS of $0.23 vs. $0.19 expected and revenue of $547.7 million, up 14.8% year‑over‑year.
• Analysts are broadly bullish — the consensus rating is a Moderate Buy with an average target of $90.43, while the stock trades around $62 and the company has a market cap near $4.8 billion.

Portolan Capital Management LLC lowered its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 33.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 226,669 shares of the medical research company's stock after selling 114,686 shares during the quarter. Portolan Capital Management LLC owned 0.29% of RadNet worth $17,274,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RDNT. Smartleaf Asset Management LLC raised its stake in RadNet by 13.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company's stock worth $102,000 after purchasing an additional 160 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 171 shares during the last quarter. Guidance Capital Inc. grew 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 valued at $758,000 after buying an additional 174 shares during the period. Xponance Inc. grew 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 valued at $409,000 after buying an additional 193 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of RadNet by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,286 shares of the medical research company's stock worth $479,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Trading Up 3.9%

RDNT opened at $62.09 on Friday. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The business has a fifty day simple moving average of $70.23 and a 200-day simple moving average of $74.06. The firm has a market cap of $4.82 billion, a P/E ratio of -248.36 and a beta of 1.49. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The business had revenue of $547.71 million during the quarter, compared to analysts' expectations of $515.67 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company's revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group raised shares of RadNet to a "buy" rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of RadNet in a research note on Monday, December 29th. Raymond James Financial restated a "strong-buy" rating on shares of RadNet in a research report on Thursday, December 18th. UBS Group set a $92.00 price target on RadNet in a research note on Friday, January 9th. Finally, B. Riley Financial increased their price target on RadNet from $71.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.43.

About RadNet

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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