Parametric Portfolio Associates LLC reduced its position in RadNet Inc. (NASDAQ:RDNT) by 37.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,182 shares of the medical research company’s stock after selling 60,282 shares during the quarter. Parametric Portfolio Associates LLC owned 0.21% of RadNet worth $769,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in RadNet by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,419,656 shares of the medical research company’s stock valued at $8,376,000 after acquiring an additional 43,960 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of RadNet by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after purchasing an additional 51,229 shares during the last quarter. Northern Trust Corp raised its holdings in shares of RadNet by 5.2% during the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after purchasing an additional 21,746 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $1,617,000 after buying an additional 16,924 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in RadNet by 94.3% in the second quarter. JPMorgan Chase & Co. now owns 271,356 shares of the medical research company’s stock valued at $2,104,000 after buying an additional 131,724 shares in the last quarter. 53.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of RadNet Inc. (NASDAQ RDNT) traded down $0.10 on Wednesday, reaching $9.70. 298,445 shares of the company traded hands, compared to its average volume of 207,323. RadNet Inc. has a 1 year low of $5.25 and a 1 year high of $11.90. The company has a debt-to-equity ratio of 7.88, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $471.48, a P/E ratio of 33.00, a P/E/G ratio of 3.33 and a beta of 0.82.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. RadNet had a net margin of 1.21% and a return on equity of 23.73%. The company had revenue of $227.60 million for the quarter, compared to the consensus estimate of $232.84 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. research analysts predict that RadNet Inc. will post 0.35 earnings per share for the current year.
A number of research analysts have weighed in on RDNT shares. Zacks Investment Research cut shares of RadNet from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group upgraded shares of RadNet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $7.00 to $12.00 in a research report on Tuesday, August 22nd. TheStreet lowered shares of RadNet from a “b-” rating to a “c” rating in a report on Friday, October 27th. Finally, BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th.
In other news, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $10.98, for a total value of $274,500.00. Following the completion of the sale, the director now owns 274,108 shares in the company, valued at approximately $3,009,705.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total transaction of $12,045,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,264,092 shares of company stock valued at $13,757,614. 9.36% of the stock is owned by company insiders.
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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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