Redwood Investments LLC raised its position in shares of RadNet Inc. (NASDAQ:RDNT) by 32.9% during the second quarter, Holdings Channel reports. The fund owned 442,430 shares of the company’s stock after buying an additional 109,563 shares during the period. Redwood Investments LLC’s holdings in RadNet were worth $2,363,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of RadNet by 0.9% in the second quarter. American Century Companies Inc. now owns 178,333 shares of the company’s stock worth $952,000 after buying an additional 1,514 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of RadNet by 0.8% in the first quarter. Geode Capital Management LLC now owns 227,019 shares of the company’s stock worth $1,096,000 after buying an additional 1,819 shares during the last quarter. Cheyne Capital Management UK LLP increased its stake in shares of RadNet by 6.4% in the second quarter. Cheyne Capital Management UK LLP now owns 268,907 shares of the company’s stock worth $1,437,000 after buying an additional 16,098 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of RadNet during the second quarter worth approximately $102,000. Finally, Miracle Mile Advisors LLC increased its stake in shares of RadNet by 42.2% in the second quarter. Miracle Mile Advisors LLC now owns 90,563 shares of the company’s stock worth $532,000 after buying an additional 26,883 shares during the last quarter. 47.07% of the stock is owned by institutional investors.
Shares of RadNet Inc. (NASDAQ:RDNT) traded up 1.22% during trading on Wednesday, reaching $7.46. The company’s stock had a trading volume of 62,398 shares. The firm’s 50-day moving average price is $6.93 and its 200-day moving average price is $5.76. RadNet Inc. has a one year low of $4.66 and a one year high of $7.67. The company has a market capitalization of $346.38 million, a price-to-earnings ratio of 32.43 and a beta of 1.36.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. RadNet had a return on equity of 43.03% and a net margin of 1.25%. The firm had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $220.09 million. During the same period in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that RadNet Inc. will post $0.26 earnings per share for the current year.
A number of analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of RadNet in a research report on Saturday, September 3rd. Jefferies Group reaffirmed a “hold” rating on shares of RadNet in a research report on Friday, August 5th. Finally, Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $8.25.
In related news, insider Stephen M. Forthuber sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $7.18, for a total value of $143,600.00. Following the completion of the transaction, the insider now directly owns 397,724 shares in the company, valued at approximately $2,855,658.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey L. Linden sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total transaction of $192,300.00. Following the completion of the transaction, the insider now owns 963,709 shares of the company’s stock, valued at $6,177,374.69. The disclosure for this sale can be found here. 9.18% of the stock is owned by insiders.
RadNet Company Profile
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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