Illinois Municipal Retirement Fund Sells 1,455 Shares of RadNet, Inc. (NASDAQ:RDNT)

Illinois Municipal Retirement Fund cut its holdings in RadNet, Inc. (NASDAQ:RDNT) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,262 shares of the medical research company’s stock after selling 1,455 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in RadNet were worth $2,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Portolan Capital Management LLC raised its stake in shares of RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after purchasing an additional 390,011 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after buying an additional 344,146 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in RadNet by 130.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after buying an additional 227,713 shares during the last quarter. Cerity Partners LLC lifted its stake in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after acquiring an additional 220,068 shares during the period. Finally, JB Capital Partners LP boosted its holdings in shares of RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $57.60 on Friday. RadNet, Inc. has a 12-month low of $36.47 and a 12-month high of $93.65. 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 company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $66.05 and a 200 day moving average of $69.12.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Friday, February 28th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, research analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays decreased their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.