Credit Suisse AG cut its position in RadNet Inc. (NASDAQ:RDNT) by 40.2% in the third quarter, HoldingsChannel reports. The firm owned 38,504 shares of the medical research company’s stock after selling 25,856 shares during the period. Credit Suisse AG’s holdings in RadNet were worth $580,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RDNT. United Services Automobile Association bought a new position in RadNet in the second quarter worth about $156,000. Campbell & CO Investment Adviser LLC raised its holdings in RadNet by 151.0% in the third quarter. Campbell & CO Investment Adviser LLC now owns 28,427 shares of the medical research company’s stock worth $428,000 after purchasing an additional 17,100 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in RadNet by 16.6% in the third quarter. Stone Ridge Asset Management LLC now owns 31,750 shares of the medical research company’s stock worth $478,000 after purchasing an additional 4,528 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in RadNet by 16.5% in the third quarter. Wedge Capital Management L L P NC now owns 32,329 shares of the medical research company’s stock worth $487,000 after purchasing an additional 4,585 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in RadNet by 19.5% in the second quarter. First Trust Advisors LP now owns 33,894 shares of the medical research company’s stock worth $508,000 after purchasing an additional 5,533 shares in the last quarter. Institutional investors and hedge funds own 60.58% of the company’s stock.
RDNT has been the subject of a number of recent research reports. BidaskClub downgraded shares of RadNet from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Zacks Investment Research lowered RadNet from a “hold” rating to a “sell” rating in a research note on Thursday, December 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.50.
In other news, insider Norman R. Hames sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $12.68, for a total transaction of $63,400.00. Following the sale, the insider now owns 569,000 shares in the company, valued at $7,214,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman R. Hames sold 15,000 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $12.57, for a total value of $188,550.00. Following the sale, the insider now owns 574,000 shares in the company, valued at approximately $7,215,180. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $407,950 in the last 90 days. Insiders own 7.56% of the company’s stock.
Shares of RDNT stock opened at $11.81 on Friday. RadNet Inc. has a fifty-two week low of $9.65 and a fifty-two week high of $16.54. The stock has a market cap of $541.93 million, a PE ratio of 40.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.84. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.12 and a current ratio of 1.12.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.05). RadNet had a positive return on equity of 14.62% and a negative net margin of 0.44%. The business had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $240.07 million. During the same quarter in the previous year, the firm posted $0.12 EPS. RadNet’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that RadNet Inc. will post 0.3 EPS for the current year.
RadNet Company Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.
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