Swiss National Bank Reduces Position in RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank cut its position in RadNet, Inc. (NASDAQ:RDNT) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,400 shares of the medical research company’s stock after selling 13,200 shares during the period. Swiss National Bank owned 0.19% of RadNet worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RDNT. Global Alpha Capital Management Ltd. boosted its holdings in shares of RadNet by 2.3% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,554,254 shares of the medical research company’s stock valued at $38,903,000 after buying an additional 34,960 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of RadNet by 84.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock valued at $27,000 after buying an additional 493 shares in the last quarter. White Pine Capital LLC boosted its holdings in shares of RadNet by 1.3% in the 1st quarter. White Pine Capital LLC now owns 79,011 shares of the medical research company’s stock valued at $1,978,000 after buying an additional 1,051 shares in the last quarter. Versor Investments LP acquired a new position in shares of RadNet in the 1st quarter valued at $245,000. Finally, Barclays PLC boosted its holdings in shares of RadNet by 6.0% in the 1st quarter. Barclays PLC now owns 25,327 shares of the medical research company’s stock valued at $634,000 after buying an additional 1,435 shares in the last quarter. 74.84% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Down 2.5 %

Shares of NASDAQ:RDNT opened at $32.57 on Tuesday. RadNet, Inc. has a 1-year low of $12.03 and a 1-year high of $35.18. The stock has a market cap of $2.21 billion, a P/E ratio of -130.27 and a beta of 1.68. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a fifty day moving average price of $32.24 and a 200 day moving average price of $28.80.

RadNet (NASDAQ:RDNT) last released its earnings results on Tuesday, August 8th. The medical research company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.07 by $0.17. RadNet had a negative net margin of 0.84% and a positive return on equity of 3.98%. The company had revenue of $403.70 million during the quarter, compared to analysts’ expectations of $389.29 million. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Sell-side analysts predict that RadNet, Inc. will post 0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RDNT. StockNews.com upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Truist Financial started coverage on shares of RadNet in a research note on Thursday, August 31st. They set a “buy” rating and a $40.00 price target for the company.

Insider Transactions at RadNet

In other news, COO Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $31.12, for a total value of $311,200.00. Following the completion of the sale, the chief operating officer now owns 278,485 shares in the company, valued at approximately $8,666,453.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.43% of the company’s 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.