State Street Corp increased its holdings in RadNet Inc. (NASDAQ:RDNT) by 9.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 585,218 shares of the medical research company’s stock after purchasing an additional 49,186 shares during the quarter. State Street Corp owned 1.24% of RadNet worth $4,538,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDNT. Dimensional Fund Advisors LP grew its position in shares of RadNet by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock valued at $11,872,000 after purchasing an additional 112,194 shares in the last quarter. Vanguard Group Inc. grew its position in RadNet by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after acquiring an additional 51,229 shares during the period. Northern Trust Corp grew its position in RadNet by 5.2% in the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after acquiring an additional 21,746 shares during the period. OxFORD Asset Management LLP grew its position in RadNet by 58.5% in the second quarter. OxFORD Asset Management LLP now owns 325,198 shares of the medical research company’s stock worth $2,520,000 after acquiring an additional 120,055 shares during the period. Finally, Geode Capital Management LLC grew its position in RadNet by 6.6% in the first quarter. Geode Capital Management LLC now owns 274,192 shares of the medical research company’s stock worth $1,617,000 after acquiring an additional 16,924 shares during the period. 53.24% of the stock is owned by institutional investors.
In related news, insider Jeffrey L. Linden sold 18,192 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $10.95, for a total transaction of $199,202.40. Following the transaction, the insider now owns 932,001 shares of the company’s stock, valued at $10,205,410.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence L. Levitt sold 6,189 shares of RadNet stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $11.04, for a total value of $68,326.56. Following the completion of the sale, the director now directly owns 198,937 shares in the company, valued at approximately $2,196,264.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,241,592 shares of company stock worth $13,482,614. Corporate insiders own 9.36% of the company’s stock.
Several research analysts recently weighed in on RDNT shares. Jefferies Group upgraded RadNet from a “hold” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $12.00 in a research report on Tuesday, August 22nd. BidaskClub upgraded RadNet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th.
Shares of RadNet Inc. (NASDAQ RDNT) opened at $9.70 on Friday. RadNet Inc. has a 52 week low of $5.25 and a 52 week high of $11.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88. The stock has a market capitalization of $461.95, a price-to-earnings ratio of 32.33, a PEG ratio of 3.26 and a beta of 0.82.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, meeting the Zacks’ 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 analysts’ expectations of $232.84 million. During the same period last year, the firm earned $0.11 earnings per share. RadNet’s quarterly revenue was up 1.3% on a year-over-year basis. analysts anticipate that RadNet Inc. will post 0.35 EPS for the current year.
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RadNet Company 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.
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