RadNet, Inc. (NASDAQ:RDNT) Stock Position Reduced by White Pine Capital LLC

White Pine Capital LLC cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 12.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,724 shares of the medical research company’s stock after selling 8,966 shares during the period. White Pine Capital LLC owned about 0.09% of RadNet worth $2,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC grew its position in RadNet by 4.8% in the fourth quarter. Yousif Capital Management LLC now owns 31,211 shares of the medical research company’s stock worth $1,085,000 after acquiring an additional 1,428 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in RadNet in the fourth quarter worth approximately $327,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of RadNet by 8.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,357 shares of the medical research company’s stock worth $464,000 after acquiring an additional 1,028 shares during the period. Beverly Hills Private Wealth LLC bought a new position in shares of RadNet during the 4th quarter worth about $243,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of RadNet during the 4th quarter worth about $1,050,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDNT. Jefferies Financial Group lifted their price target on shares of RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 22nd. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Truist Financial restated a “buy” rating and issued a $55.00 price objective (up previously from $51.00) on shares of RadNet in a research report on Thursday, March 28th. Finally, Barclays started coverage on shares of RadNet in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price objective for the company.

RadNet Stock Down 0.9 %

Shares of RadNet stock traded down $0.45 on Friday, hitting $48.40. The stock had a trading volume of 289,737 shares, compared to its average volume of 402,835. The stock has a 50 day moving average of $45.83 and a 200 day moving average of $37.95. RadNet, Inc. has a twelve month low of $25.11 and a twelve month high of $49.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32.

RadNet (NASDAQ:RDNT) last released its earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $420.38 million during the quarter, compared to the consensus estimate of $410.11 million. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities research analysts forecast that RadNet, Inc. will post 0.35 earnings per share for the current fiscal year.

RadNet 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.