State Street Corp increased its holdings in RadNet Inc. (NASDAQ:RDNT) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,218 shares of the medical research company’s stock after purchasing an additional 49,186 shares during the period. State Street Corp owned 1.24% of RadNet worth $4,538,000 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 stock. Dimensional Fund Advisors LP increased its stake in RadNet by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after acquiring an additional 112,194 shares during the last quarter. Vanguard Group Inc. increased its stake in RadNet by 4.2% in the 2nd 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 last quarter. Northern Trust Corp increased its stake in RadNet by 5.2% in the 2nd 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 last quarter. OxFORD Asset Management LLP increased its stake in RadNet by 58.5% in the 2nd 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 last quarter. Finally, Geode Capital Management LLC increased its stake in RadNet by 6.6% in the 1st 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 last quarter. 53.24% of the stock is currently owned by institutional investors.
Shares of RadNet Inc. (NASDAQ:RDNT) opened at $9.70 on Thursday. RadNet Inc. has a 1-year low of $5.25 and a 1-year high of $11.90. The firm has a market capitalization of $466.71, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.82. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, hitting 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 business had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $232.84 million. During the same period in the prior year, the business earned $0.11 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. sell-side analysts predict that RadNet Inc. will post 0.35 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on the company. TheStreet raised RadNet from a “c” rating to a “b-” rating in a research report on Thursday, August 24th. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. 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 boosted their price objective for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd.
In other RadNet news, insider Norman R. Hames sold 5,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the completion of the sale, the insider now directly owns 407,257 shares in the company, valued at approximately $4,072,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Md Sherman sold 8,035 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $11.02, for a total value of $88,545.70. Following the completion of the sale, the director now owns 301,957 shares of the company’s stock, valued at $3,327,566.14. The disclosure for this sale can be found here. Insiders sold a total of 1,239,092 shares of company stock valued at $13,483,114 over the last quarter. Company insiders own 9.36% of the company’s stock.
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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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