Calamos Advisors LLC Has $6.67 Million Stake in RadNet, Inc. (NASDAQ:RDNT)

Calamos Advisors LLC trimmed its holdings in RadNet, Inc. (NASDAQ:RDNT) by 13.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 113,131 shares of the medical research company’s stock after selling 17,814 shares during the quarter. Calamos Advisors LLC’s holdings in RadNet were worth $6,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of RadNet by 8.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,357 shares of the medical research company’s stock worth $464,000 after purchasing an additional 1,028 shares during the last quarter. Handelsbanken Fonder AB bought a new position in RadNet during the fourth quarter worth $327,000. Yousif Capital Management LLC lifted its holdings in RadNet by 4.8% during the 4th quarter. Yousif Capital Management LLC now owns 31,211 shares of the medical research company’s stock worth $1,085,000 after purchasing an additional 1,428 shares during the last quarter. Victory Capital Management Inc. increased its stake in RadNet by 193.7% during the 4th quarter. Victory Capital Management Inc. now owns 256,039 shares of the medical research company’s stock worth $8,902,000 after acquiring an additional 168,857 shares during the period. Finally, Natixis Advisors L.P. increased its stake in RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after acquiring an additional 627 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Christine Nayoma Gordon sold 3,000 shares of RadNet stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $61.30, for a total value of $183,900.00. Following the transaction, the director now directly owns 12,379 shares in the company, valued at $758,832.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Christine Nayoma Gordon sold 3,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $61.30, for a total transaction of $183,900.00. Following the sale, the director now directly owns 12,379 shares of the company’s stock, valued at $758,832.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,730 shares of company stock worth $7,063,216. 5.12% of the stock is owned by company insiders.

RadNet Price Performance

Shares of RadNet stock traded up $0.92 during mid-day trading on Friday, reaching $65.00. 497,334 shares of the stock traded hands, compared to its average volume of 547,558. The stock has a market capitalization of $4.80 billion, a PE ratio of 216.67 and a beta of 1.75. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $60.48 and a 200 day moving average of $53.18. RadNet, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $66.04.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). RadNet had a return on equity of 5.05% and a net margin of 1.28%. The company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts predict that RadNet, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RDNT shares. Jefferies Financial Group raised their price target on shares of RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Truist Financial boosted their price objective on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Barclays lifted their price objective on RadNet from $51.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. StockNews.com downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Raymond James lifted their price objective on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.50.

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.