Financial Gravity Companies Inc. purchased a new stake in shares of RadNet Inc. (NASDAQ:RDNT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 55,167 shares of the medical research company’s stock, valued at approximately $560,000. RadNet accounts for approximately 0.6% of Financial Gravity Companies Inc.’s investment portfolio, making the stock its 25th biggest holding.
Other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new stake in shares of RadNet during the 3rd quarter valued at about $403,000. TIAA CREF Investment Management LLC grew its stake in shares of RadNet by 19.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 124,612 shares of the medical research company’s stock valued at $966,000 after acquiring an additional 20,520 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of RadNet by 12.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 184,032 shares of the medical research company’s stock valued at $2,126,000 after acquiring an additional 21,000 shares during the period. Acadian Asset Management LLC grew its stake in shares of RadNet by 58.9% during the 4th quarter. Acadian Asset Management LLC now owns 128,442 shares of the medical research company’s stock valued at $1,297,000 after acquiring an additional 47,585 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of RadNet by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock valued at $9,957,000 after acquiring an additional 51,229 shares during the period. Institutional investors and hedge funds own 53.45% of the company’s stock.
A number of research analysts recently issued reports on RDNT shares. Zacks Investment Research upgraded RadNet from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, January 4th. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a report on Saturday, January 6th.
RadNet Inc. (NASDAQ RDNT) opened at $10.00 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88. RadNet Inc. has a twelve month low of $5.25 and a twelve month high of $11.90. The company has a market capitalization of $483.38, a P/E ratio of 33.83, a P/E/G ratio of 2.44 and a beta of 0.67.
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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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