Macquarie Group Ltd. Acquires New Holdings in RadNet Inc. (RDNT)

Macquarie Group Ltd. acquired a new position in shares of RadNet Inc. (NASDAQ:RDNT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 39,823 shares of the medical research company’s stock, valued at approximately $460,000. Macquarie Group Ltd. owned approximately 0.08% of RadNet at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in RadNet by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,233,623 shares of the medical research company’s stock valued at $7,278,000 after buying an additional 30,054 shares in the last quarter. Geode Capital Management LLC raised its holdings in RadNet by 6.6% during the first quarter. Geode Capital Management LLC now owns 274,192 shares of the medical research company’s stock valued at $1,617,000 after buying an additional 16,924 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in RadNet by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,419,656 shares of the medical research company’s stock valued at $8,376,000 after buying an additional 43,960 shares in the last quarter. Bank of America Corp DE raised its holdings in RadNet by 5.9% during the first quarter. Bank of America Corp DE now owns 26,580 shares of the medical research company’s stock valued at $157,000 after buying an additional 1,477 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in RadNet by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 89,106 shares of the medical research company’s stock valued at $526,000 after buying an additional 2,684 shares in the last quarter. Institutional investors and hedge funds own 53.24% of the company’s stock.

RadNet Inc. (RDNT) opened at $9.70 on Friday. RadNet Inc. has a 1-year low of $5.25 and a 1-year high of $11.90. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 7.88. The firm has a market capitalization of $469.10, a PE ratio of 32.83, a price-to-earnings-growth ratio of 3.31 and a beta of 0.82.

RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. RadNet had a return on equity of 23.73% and a net margin of 1.21%. The company had revenue of $227.60 million for the quarter, compared to analyst estimates of $232.84 million. During the same period last year, the company earned $0.11 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. equities research analysts anticipate that RadNet Inc. will post 0.35 EPS for the current year.

Several research firms have weighed in on RDNT. Zacks Investment Research lowered RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. TheStreet lowered RadNet from a “b-” rating to a “c” rating in a report on Friday, October 27th. BidaskClub upgraded RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Finally, Jefferies Group upgraded RadNet from a “hold” rating to a “buy” rating and raised their target price for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd.

In other news, insider Norman R. Hames sold 10,000 shares of RadNet stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $9.87, for a total value of $98,700.00. Following the transaction, the insider now directly owns 380,087 shares in the company, valued at $3,751,458.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of RadNet stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total value of $12,045,000.00. The disclosure for this sale can be found here. Insiders sold 1,241,592 shares of company stock worth $13,482,614 over the last quarter. 9.36% of the stock is currently owned by corporate insiders.

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RadNet Profile

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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