Alberta Investment Management Corp Sells 15,017 Shares of RadNet, Inc. (NASDAQ:RDNT)

Alberta Investment Management Corp trimmed its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 16.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,668 shares of the medical research company's stock after selling 15,017 shares during the period. Alberta Investment Management Corp owned 0.11% of RadNet worth $2,735,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RDNT. Victory Capital Management Inc. boosted its position in shares of RadNet by 29.7% in the third quarter. Victory Capital Management Inc. now owns 87,182 shares of the medical research company's stock worth $2,458,000 after purchasing an additional 19,965 shares during the period. Arizona State Retirement System increased its stake in RadNet by 3.6% in the 3rd quarter. Arizona State Retirement System now owns 17,164 shares of the medical research company's stock worth $484,000 after buying an additional 599 shares in the last quarter. Jump Financial LLC bought a new stake in RadNet during the third quarter valued at about $1,054,000. Barclays PLC lifted its position in shares of RadNet by 261.7% in the third quarter. Barclays PLC now owns 100,709 shares of the medical research company's stock valued at $2,840,000 after acquiring an additional 72,864 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of RadNet by 0.7% in the third quarter. New York State Common Retirement Fund now owns 281,552 shares of the medical research company's stock worth $7,937,000 after acquiring an additional 2,031 shares during the period. 77.90% of the stock is owned by institutional investors.

RadNet Trading Down 0.4 %

Shares of NASDAQ RDNT traded down $0.23 during midday trading on Friday, hitting $58.64. The company's stock had a trading volume of 500,996 shares, compared to its average volume of 443,815. The business's 50 day moving average is $51.85 and its two-hundred day moving average is $42.78. RadNet, Inc. has a 12-month low of $25.11 and a 12-month high of $60.21. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.33 billion, a P/E ratio of 195.47 and a beta of 1.69.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.16. The firm had revenue of $431.70 million for the quarter, compared to analysts' expectations of $421.72 million. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, equities research analysts expect that RadNet, Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

RDNT has been the topic of several recent analyst reports. Raymond James lifted their price objective on shares of RadNet from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, May 10th. StockNews.com lowered RadNet from a "hold" rating to a "sell" rating in a research report on Wednesday, May 15th. Jefferies Financial Group increased their price target on RadNet from $47.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Barclays began 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. Finally, Truist Financial reissued a "buy" rating and issued a $63.00 target price (up from $55.00) on shares of RadNet in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RadNet presently has an average rating of "Hold" and a consensus target price of $57.25.

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.

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