Wedge Capital Management L L P NC lessened its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 54.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,978 shares of the medical research company’s stock after selling 20,055 shares during the period. Wedge Capital Management L L P NC’s holdings in RadNet were worth $244,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in RadNet during the 2nd quarter valued at $36,000. Oppenheimer Asset Management Inc. purchased a new stake in RadNet during the 2nd quarter valued at $40,000. US Bancorp DE raised its holdings in RadNet by 34.0% during the 2nd quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock valued at $46,000 after buying an additional 844 shares during the period. Envestnet Asset Management Inc. raised its holdings in RadNet by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after buying an additional 1,132 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in RadNet during the 2nd quarter valued at $176,000. Institutional investors own 62.67% of the company’s stock.
NASDAQ:RDNT traded down $0.17 during midday trading on Friday, hitting $16.08. 99,300 shares of the company traded hands, compared to its average volume of 236,912. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 5.09. The firm has a market capitalization of $797.02 million, a P/E ratio of 24.36, a P/E/G ratio of 6.42 and a beta of 0.86. The firm’s fifty day moving average is $14.93 and its 200-day moving average is $14.04. RadNet Inc. has a 12-month low of $9.97 and a 12-month high of $16.66.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $289.10 million during the quarter, compared to analyst estimates of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. RadNet’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. On average, research analysts expect that RadNet Inc. will post 0.33 EPS for the current fiscal year.
RDNT has been the topic of several recent research reports. Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. BidaskClub lowered RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.75.
In other RadNet news, insider John V. Crues sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $15.07, for a total value of $753,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Md Sherman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $15.19, for a total value of $455,700.00. Following the completion of the sale, the director now directly owns 259,083 shares of the company’s stock, valued at approximately $3,935,470.77. The disclosure for this sale can be found here. In the last three months, insiders sold 100,703 shares of company stock valued at $1,522,850. Corporate insiders own 6.10% of the company’s stock.
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.
Recommended Story: How to calculate the intrinsic value of a stock
Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.