RadNet, Inc. $RDNT Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its holdings in RadNet, Inc. (NASDAQ:RDNT) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,164 shares of the medical research company’s stock after selling 7,740 shares during the period. Calamos Advisors LLC’s holdings in RadNet were worth $1,774,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in RadNet in the first quarter valued at $457,000. Envestnet Asset Management Inc. raised its position in RadNet by 50.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company’s stock valued at $6,855,000 after purchasing an additional 46,169 shares in the last quarter. Xponance Inc. boosted its stake in shares of RadNet by 5.0% in the 1st quarter. Xponance Inc. now owns 5,010 shares of the medical research company’s stock valued at $249,000 after buying an additional 239 shares during the period. New York State Common Retirement Fund boosted its stake in shares of RadNet by 92.5% in the 1st quarter. New York State Common Retirement Fund now owns 222,551 shares of the medical research company’s stock valued at $11,065,000 after buying an additional 106,953 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of RadNet during the first quarter worth about $2,797,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RDNT. Zacks Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Wall Street Zen raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Morgan Stanley upgraded shares of RadNet to an “overweight” rating in a research note on Monday, August 11th. Finally, Truist Financial raised their price target on RadNet from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $80.00.

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 65,598 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $67.50, for a total value of $4,427,865.00. Following the completion of the sale, the insider directly owned 138,198 shares of the company’s stock, valued at approximately $9,328,365. The trade was a 32.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Norman R. Hames sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $72.74, for a total value of $727,400.00. Following the completion of the sale, the chief operating officer directly owned 239,183 shares of the company’s stock, valued at approximately $17,398,171.42. This trade represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 118,098 shares of company stock worth $8,269,445 over the last three months. 5.60% of the stock is currently owned by company insiders.

RadNet Trading Down 1.3%

Shares of RadNet stock opened at $73.46 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $76.52 and a 200-day simple moving average of $65.10. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -367.28 and a beta of 1.58. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.42.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. RadNet’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

About RadNet

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.