Swiss National Bank Sells 3,600 Shares of RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.6% in the second quarter, HoldingsChannel reports. The fund owned 96,700 shares of the medical research company’s stock after selling 3,600 shares during the quarter. Swiss National Bank’s holdings in RadNet were worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RDNT. Goldman Sachs Group Inc. grew its position in shares of RadNet by 86.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,569 shares of the medical research company’s stock valued at $9,017,000 after acquiring an additional 191,991 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of RadNet during the 2nd quarter valued at $4,028,000. Russell Investments Group Ltd. grew its position in shares of RadNet by 32.7% during the 1st quarter. Russell Investments Group Ltd. now owns 466,609 shares of the medical research company’s stock valued at $10,146,000 after acquiring an additional 114,986 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of RadNet by 134.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 188,158 shares of the medical research company’s stock valued at $4,092,000 after acquiring an additional 107,941 shares during the period. Finally, American Century Companies Inc. grew its position in shares of RadNet by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 1,269,193 shares of the medical research company’s stock valued at $42,759,000 after acquiring an additional 101,658 shares during the period. 67.06% of the stock is owned by hedge funds and other institutional investors.

RDNT opened at $28.37 on Thursday. The firm has a 50-day simple moving average of $32.00 and a two-hundred day simple moving average of $28.38. RadNet, Inc. has a 52 week low of $13.49 and a 52 week high of $38.84. The company has a market capitalization of $1.51 billion, a PE ratio of 61.67 and a beta of 1.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.50.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, August 9th. The medical research company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.14 by $0.13. RadNet had a net margin of 1.96% and a return on equity of 12.71%. The business had revenue of $333.90 million during the quarter, compared to the consensus estimate of $325.09 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue was up 75.2% on a year-over-year basis. As a group, sell-side analysts expect that RadNet, Inc. will post 0.75 earnings per share for the current year.

RDNT has been the subject of a number of recent research reports. Sidoti boosted their price objective on shares of RadNet from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, June 14th. Barclays assumed coverage on shares of RadNet in a report on Thursday, August 12th. They issued an “overweight” rating and a $39.00 target price for the company. Raymond James downgraded shares of RadNet from an “outperform” rating to a “market perform” rating in a report on Thursday, August 12th. TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a report on Monday, August 16th. Finally, Zacks Investment Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Tuesday, July 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $36.25.

In other RadNet news, SVP Ruth Louisa Villigerwilson sold 3,246 shares of the stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $31.47, for a total transaction of $102,151.62. Following the completion of the transaction, the senior vice president now owns 16,914 shares of the company’s stock, valued at approximately $532,283.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 35,000 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $33.66, for a total transaction of $1,178,100.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

RadNet Company Profile

RadNet, Inc provides freestanding, fixed-site outpatient diagnostic imaging services in the United States. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The firm offers magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures.

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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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