Cheyne Capital Management UK LLP lowered its holdings in RadNet Inc. (NASDAQ:RDNT) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 372,896 shares of the medical research company’s stock after selling 13,100 shares during the quarter. RadNet comprises 3.6% of Cheyne Capital Management UK LLP’s investment portfolio, making the stock its 12th biggest holding. Cheyne Capital Management UK LLP owned about 0.76% of RadNet worth $3,792,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Services Automobile Association purchased a new position in RadNet during the 2nd quarter worth approximately $156,000. Dimensional Fund Advisors LP grew its stake in RadNet by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,568,404 shares of the medical research company’s stock worth $23,604,000 after buying an additional 7,581 shares during the last quarter. BlackRock Inc. grew its stake in RadNet by 21.1% during the 3rd quarter. BlackRock Inc. now owns 3,089,617 shares of the medical research company’s stock worth $46,499,000 after buying an additional 537,422 shares during the last quarter. Vanguard Group Inc grew its stake in RadNet by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 1,669,965 shares of the medical research company’s stock worth $25,134,000 after buying an additional 23,602 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in RadNet by 265.5% during the 3rd quarter. Alliancebernstein L.P. now owns 121,330 shares of the medical research company’s stock worth $1,826,000 after buying an additional 88,130 shares during the last quarter. Institutional investors and hedge funds own 59.85% of the company’s stock.
NASDAQ:RDNT opened at $13.47 on Monday. The company has a market cap of $658.23 million, a P/E ratio of 46.45, a PEG ratio of 3.24 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 4.56. RadNet Inc. has a 52-week low of $9.65 and a 52-week high of $16.54.
RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). RadNet had a positive return on equity of 14.62% and a negative net margin of 0.44%. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $240.07 million. During the same quarter in the prior year, the business earned $0.12 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that RadNet Inc. will post 0.25 EPS for the current fiscal year.
A number of research analysts recently issued reports on RDNT shares. BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Zacks Investment Research downgraded RadNet from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.50.
In other RadNet news, insider Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $12.68, for a total transaction of $63,400.00. Following the completion of the sale, the insider now directly owns 569,000 shares of the company’s stock, valued at approximately $7,214,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Norman R. Hames sold 15,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 574,000 shares of the company’s stock, valued at $7,215,180. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $407,950 over the last ninety days. 7.56% of the stock is owned by insiders.
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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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