RadNet, Inc. (NASDAQ:RDNT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,803 shares of the medical research company's stock after selling 15,749 shares during the quarter. New York State Common Retirement Fund owned approximately 0.39% of RadNet worth $9,242,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of RadNet by 3.5% in the third quarter. Vanguard Group Inc. now owns 4,222,234 shares of the medical research company's stock valued at $119,025,000 after buying an additional 143,295 shares in the last quarter. Invesco Ltd. boosted its stake in RadNet by 12.5% in the third quarter. Invesco Ltd. now owns 1,471,687 shares of the medical research company's stock valued at $41,487,000 after buying an additional 163,380 shares in the last quarter. Principal Financial Group Inc. increased its position in RadNet by 16.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,157,361 shares of the medical research company's stock valued at $32,626,000 after acquiring an additional 163,364 shares during the period. Punch & Associates Investment Management Inc. raised its holdings in RadNet by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,045,704 shares of the medical research company's stock worth $29,478,000 after purchasing an additional 9,151 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in RadNet in the third quarter valued at approximately $18,477,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Trading Up 2.4 %

Shares of NASDAQ RDNT traded up $1.21 during midday trading on Thursday, reaching $51.66. 743,911 shares of the stock were exchanged, compared to its average volume of 521,328. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $51.69. The business has a 50-day simple moving average of $46.50 and a two-hundred day simple moving average of $38.42. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -2,521.24 and a beta of 1.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Friday, March 1st. The medical research company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The company had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm's quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that RadNet, Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Truist Financial reiterated a "buy" rating and issued a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research note on Thursday, March 28th. StockNews.com lowered RadNet from a "hold" rating to a "sell" rating in a research note on Thursday, April 11th. Jefferies Financial Group raised their target price on shares of RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Finally, Barclays initiated coverage on RadNet in a report on Wednesday, March 6th. They set an "equal weight" rating and a $48.00 price objective on the stock.

RadNet Company 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.