Dalton Greiner Hartman Maher & Co. reduced its holdings in shares of RadNet Inc. (NASDAQ:RDNT) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 330,250 shares of the medical research company’s stock after selling 3,702 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in RadNet were worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of RadNet by 19.5% during the second quarter. First Trust Advisors LP now owns 33,894 shares of the medical research company’s stock valued at $508,000 after acquiring an additional 5,533 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of RadNet by 16.0% during the second quarter. Rhumbline Advisers now owns 39,205 shares of the medical research company’s stock valued at $588,000 after acquiring an additional 5,398 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of RadNet by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 185,216 shares of the medical research company’s stock valued at $2,778,000 after acquiring an additional 6,054 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of RadNet by 34.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 181,304 shares of the medical research company’s stock valued at $2,720,000 after acquiring an additional 46,242 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of RadNet by 17.2% during the second quarter. BlackRock Inc. now owns 2,552,195 shares of the medical research company’s stock valued at $38,283,000 after acquiring an additional 374,945 shares in the last quarter. 60.58% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Norman R. Hames sold 5,000 shares of the stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $12.68, for a total value of $63,400.00. Following the sale, the insider now directly owns 569,000 shares of the company’s stock, valued at $7,214,920. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Norman R. Hames sold 15,000 shares of the stock in a transaction on Monday, December 10th. The stock was sold at an average price of $12.57, for a total value of $188,550.00. Following the completion of the sale, the insider now directly owns 574,000 shares in the company, valued at $7,215,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,000 shares of company stock worth $407,950. 7.56% of the stock is owned by insiders.
A number of brokerages recently commented on RDNT. BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $15.50.
Shares of RDNT stock opened at $12.43 on Friday. The firm has a market capitalization of $606.92 million, a P/E ratio of 42.86, a PEG ratio of 2.99 and a beta of 0.84. RadNet Inc. has a twelve month low of $9.65 and a twelve month high of $16.54. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.12 and a current ratio of 1.12.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The firm had revenue of $242.10 million during the quarter, compared to analysts’ expectations of $240.07 million. RadNet had a positive return on equity of 14.62% and a negative net margin of 0.44%. RadNet’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, equities analysts anticipate that RadNet Inc. will post 0.3 earnings per share for the current fiscal year.
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RadNet Company Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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