California State Teachers Retirement System reduced its stake in RadNet Inc. (NASDAQ:RDNT) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,192 shares of the medical research company’s stock after selling 6,388 shares during the quarter. California State Teachers Retirement System owned about 0.12% of RadNet worth $684,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Prudential Financial Inc. raised its stake in RadNet by 15.2% during the 2nd quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock valued at $158,000 after buying an additional 2,700 shares during the last quarter. Voya Investment Management LLC grew its position in shares of RadNet by 19.5% during the 2nd quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock valued at $168,000 after acquiring an additional 3,546 shares during the period. Alliancebernstein L.P. grew its position in shares of RadNet by 101.5% during the 2nd quarter. Alliancebernstein L.P. now owns 27,000 shares of the medical research company’s stock valued at $209,000 after acquiring an additional 13,600 shares during the period. Cavalier Investments LLC bought a new stake in shares of RadNet during the 3rd quarter valued at $313,000. Finally, Virtu KCG Holdings LLC grew its position in shares of RadNet by 50.1% during the 2nd quarter. Virtu KCG Holdings LLC now owns 27,527 shares of the medical research company’s stock valued at $213,000 after acquiring an additional 9,186 shares during the period. 53.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on RDNT shares. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, January 4th. TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a report on Friday, October 27th. Finally, BidaskClub raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, January 6th.
In related news, insider John V. Crues sold 20,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $9.89, for a total value of $197,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John V. Crues sold 19,684 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.01, for a total transaction of $197,036.84. Following the completion of the sale, the insider now directly owns 544,097 shares in the company, valued at $5,446,410.97. The disclosure for this sale can be found here. Insiders have sold a total of 93,084 shares of company stock worth $925,587 over the last 90 days. Corporate insiders own 9.36% of the company’s stock.
Shares of RadNet Inc. (NASDAQ:RDNT) opened at $10.05 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 7.88. The stock has a market cap of $476.24, a PE ratio of 43.70, a PEG ratio of 2.18 and a beta of 0.67. RadNet Inc. has a 1 year low of $5.25 and a 1 year high of $11.90.
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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