Hsbc Holdings PLC Has $5.03 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Hsbc Holdings PLC trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 34.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 71,509 shares of the medical research company's stock after selling 37,876 shares during the period. Hsbc Holdings PLC owned about 0.10% of RadNet worth $5,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDNT. Highland Capital Management LLC boosted its stake in RadNet by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after acquiring an additional 202 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in RadNet by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after buying an additional 219 shares during the period. Summit Financial LLC boosted its holdings in RadNet by 2.4% during the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after buying an additional 262 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of RadNet by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock worth $516,000 after buying an additional 302 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after acquiring an additional 305 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Down 0.3 %

Shares of RadNet stock traded down $0.17 during trading hours on Thursday, reaching $52.21. 614,380 shares of the company's stock were exchanged, compared to its average volume of 664,107. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $51.09 and a two-hundred day moving average of $64.13. The stock has a market cap of $3.92 billion, a P/E ratio of -745.75 and a beta of 1.59. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RDNT shares. Truist Financial lowered their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Barclays lowered their target price on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. StockNews.com upgraded RadNet to a "sell" rating in a report on Wednesday, March 19th. Finally, Jefferies Financial Group decreased their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $69.75.

Insiders Place Their Bets

In other RadNet news, Director David L. Swartz sold 25,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares of the company's stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 over the last 90 days. 5.12% of the stock is currently owned by insiders.

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.