RadNet, Inc. (NASDAQ:RDNT) Shares Sold by White Pine Capital LLC

White Pine Capital LLC decreased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 12.9% in the fourth quarter, Holdings Channel reports. The firm owned 60,724 shares of the medical research company’s stock after selling 8,966 shares during the period. White Pine Capital LLC’s holdings in RadNet were worth $2,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RDNT. Assetmark Inc. raised its stake in RadNet by 51.6% in the 3rd quarter. Assetmark Inc. now owns 2,354 shares of the medical research company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. TIAA Trust National Association purchased a new position in RadNet in the 3rd quarter worth $208,000. MQS Management LLC purchased a new position in RadNet in the 3rd quarter worth $209,000. Stratos Wealth Partners LTD. purchased a new position in RadNet in the 3rd quarter worth $237,000. Finally, Beverly Hills Private Wealth LLC purchased a new position in RadNet in the 4th quarter worth $243,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 0.9 %

Shares of NASDAQ RDNT traded down $0.45 during trading on Friday, reaching $48.40. 289,737 shares of the company traded hands, compared to its average volume of 402,835. The firm’s fifty day simple moving average is $45.83 and its 200 day simple moving average is $37.95. RadNet, Inc. has a 12-month low of $25.11 and a 12-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 announced its quarterly earnings results on Friday, March 1st. The medical research company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The firm had revenue of $420.38 million during the quarter, compared to analyst estimates of $410.11 million. During the same quarter in the previous year, the business earned $0.11 EPS. RadNet’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts expect that RadNet, Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About RadNet

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.