SG Americas Securities LLC Sells 19,121 Shares of RadNet, Inc. (NASDAQ:RDNT)

SG Americas Securities LLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 85.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,346 shares of the medical research company’s stock after selling 19,121 shares during the period. SG Americas Securities LLC’s holdings in RadNet were worth $116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in RadNet by 84.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,078 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 493 shares during the period. Assetmark Inc. increased its stake in RadNet by 51.6% during the third quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock valued at $66,000 after acquiring an additional 801 shares during the period. Lazard Asset Management LLC bought a new position in RadNet during the third quarter valued at about $69,000. UBS Group AG increased its stake in RadNet by 48.8% during the third quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 867 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of RadNet by 180.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 2,217 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays assumed coverage on RadNet in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $55.00 price objective (up 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. Finally, Jefferies Financial Group upped their price objective on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd.

RadNet Stock Down 0.4 %

Shares of RDNT opened at $47.61 on Friday. The company has a market capitalization of $3.26 billion, a P/E ratio of -2,393.30 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, Inc. has a one year low of $25.11 and a one year high of $49.94. The business’s 50 day simple moving average is $44.40 and its 200-day simple moving average is $37.07.

RadNet (NASDAQ:RDNT) last announced its earnings results on Friday, March 1st. The medical research company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $420.38 million for the quarter, compared to the consensus estimate of $410.11 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. RadNet’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts predict that RadNet, Inc. will post 0.35 EPS for the current fiscal year.

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.