PNC Financial Services Group Inc. Has $62,000 Stake in RadNet, Inc. (NASDAQ:RDNT)

PNC Financial Services Group Inc. lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 51.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,814 shares of the medical research company’s stock after acquiring an additional 615 shares during the quarter. PNC Financial Services Group Inc.’s holdings in RadNet were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Beck Mack & Oliver LLC boosted its holdings in shares of RadNet by 1.0% during the 2nd quarter. Beck Mack & Oliver LLC now owns 2,088,609 shares of the medical research company’s stock valued at $70,365,000 after acquiring an additional 20,700 shares in the last quarter. American Century Companies Inc. boosted its holdings 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of RadNet by 10.1% during the 1st quarter. Geode Capital Management LLC now owns 711,139 shares of the medical research company’s stock valued at $15,467,000 after acquiring an additional 65,111 shares in the last quarter. Tamarack Advisers LP boosted its holdings in shares of RadNet by 5.4% during the 1st quarter. Tamarack Advisers LP now owns 685,000 shares of the medical research company’s stock valued at $14,899,000 after acquiring an additional 35,000 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of RadNet by 1.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 669,029 shares of the medical research company’s stock valued at $14,551,000 after acquiring an additional 11,730 shares in the last quarter. 67.06% of the stock is currently owned by institutional investors.

Shares of NASDAQ:RDNT opened at $28.37 on Thursday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 61.67 and a beta of 1.67. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50-day moving average is $32.00 and its 200-day moving average is $28.38. RadNet, Inc. has a 1 year low of $13.49 and a 1 year high of $38.84.

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

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

In other news, Director David L. Swartz bought 4,519 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The stock was acquired at an average cost of $33.47 per share, with a total value of $151,250.93. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Norman R. Hames sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $33.66, for a total value of $1,178,100.00. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

About RadNet

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.

See Also: The limitations of an equal weight rating

Want to see what other hedge funds are holding RDNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RadNet, Inc. (NASDAQ:RDNT).

Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.