Global Alpha Capital Management Ltd. trimmed its stake in shares of RadNet, Inc. (NASDAQ:RDNT – Free Report) by 30.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 488,169 shares of the medical research company’s stock after selling 214,589 shares during the period. RadNet comprises about 2.1% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 21st biggest holding. Global Alpha Capital Management Ltd.’s holdings in RadNet were worth $34,831,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the business. Westfield Capital Management Co. LP lifted its stake in RadNet by 1.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 531,761 shares of the medical research company’s stock worth $37,941,000 after acquiring an additional 5,941 shares in the last quarter. State of Wyoming raised its stake in shares of RadNet by 267.1% during the 4th quarter. State of Wyoming now owns 3,194 shares of the medical research company’s stock worth $228,000 after purchasing an additional 2,324 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of RadNet during the 4th quarter worth about $304,000. TD Asset Management Inc increased its holdings in shares of RadNet by 6.6% during the 4th quarter. TD Asset Management Inc now owns 56,110 shares of the medical research company’s stock valued at $4,003,000 after acquiring an additional 3,462 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of RadNet during the 4th quarter valued at about $276,000. 77.90% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at RadNet
In related news, insider Alma Gregory Sorensen sold 15,000 shares of RadNet stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares of the company’s stock, valued at $75,134,564.45. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by company insiders.
RadNet Trading Up 2.9%
RadNet (NASDAQ:RDNT – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company had revenue of $575.63 million for the quarter, compared to analyst estimates of $557.93 million. During the same period last year, the firm earned ($0.50) earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities research analysts expect that RadNet, Inc. will post 0.54 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Barclays lowered their target price on RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price objective on shares of RadNet in a report on Tuesday, March 3rd. Finally, Weiss Ratings cut RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.
View Our Latest Report on RDNT
RadNet Profile
RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.
Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.
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