Illinois Municipal Retirement Fund Cuts Stake in RadNet, Inc. (NASDAQ:RDNT)

Illinois Municipal Retirement Fund lowered its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,262 shares of the medical research company’s stock after selling 1,455 shares during the period. Illinois Municipal Retirement Fund’s holdings in RadNet were worth $2,463,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in RadNet by 39.1% during the fourth quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock valued at $119,000 after buying an additional 477 shares during the period. Y Intercept Hong Kong Ltd bought a new position in RadNet during the 4th quarter worth approximately $334,000. Navellier & Associates Inc. increased its stake in RadNet by 4.9% in the 4th quarter. Navellier & Associates Inc. now owns 9,501 shares of the medical research company’s stock worth $664,000 after purchasing an additional 440 shares during the period. Handelsbanken Fonder AB increased its stake in RadNet by 11.9% in the 4th quarter. Handelsbanken Fonder AB now owns 16,900 shares of the medical research company’s stock worth $1,180,000 after purchasing an additional 1,800 shares during the period. Finally, Private Advisor Group LLC bought a new stake in RadNet in the fourth quarter valued at approximately $261,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT stock opened at $57.60 on Friday. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -822.74 and a beta of 1.79. The stock has a fifty day moving average of $66.05 and a 200 day moving average of $69.12. RadNet, Inc. has a 52 week low of $36.47 and a 52 week high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last posted its earnings results on Friday, February 28th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RDNT shares. Barclays decreased their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Jefferies Financial Group decreased their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.