Schroder Investment Management Group lowered its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 49.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,517 shares of the medical research company’s stock after selling 17,267 shares during the quarter. Schroder Investment Management Group’s holdings in RadNet were worth $242,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in RadNet during the first quarter worth about $34,000. Aperio Group LLC purchased a new position in shares of RadNet in the 2nd quarter worth approximately $36,000. BNP Paribas Arbitrage SA grew its holdings in shares of RadNet by 485.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 6,965 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of RadNet in the first quarter valued at approximately $116,000. Finally, Envestnet Asset Management Inc. increased its position in shares of RadNet by 11.0% during the second quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after acquiring an additional 1,132 shares during the last quarter. Institutional investors and hedge funds own 61.62% of the company’s stock.
In other news, insider Norman R. Hames sold 20,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $13.09, for a total value of $261,800.00. Following the sale, the insider now directly owns 559,158 shares of the company’s stock, valued at $7,319,378.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Md Sherman sold 30,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $15.19, for a total transaction of $455,700.00. Following the completion of the sale, the director now directly owns 259,083 shares in the company, valued at $3,935,470.77. The disclosure for this sale can be found here. Insiders have sold a total of 142,370 shares of company stock worth $2,071,305 in the last three months. 6.10% of the stock is currently owned by insiders.
NASDAQ:RDNT traded down $0.20 on Tuesday, reaching $13.73. 899 shares of the company’s stock were exchanged, compared to its average volume of 245,629. The company has a debt-to-equity ratio of 5.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $694.76 million, a price-to-earnings ratio of 20.77, a P/E/G ratio of 5.60 and a beta of 0.93. RadNet Inc. has a 52 week low of $9.97 and a 52 week high of $16.54. The stock has a fifty day simple moving average of $14.57 and a 200-day simple moving average of $13.59.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). RadNet had a net margin of 3.33% and a return on equity of 18.91%. The business had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $272.36 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts predict that RadNet Inc. will post 0.33 EPS for the current year.
RDNT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Tuesday, September 3rd. BidaskClub downgraded shares of RadNet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th. Finally, TheStreet lowered shares of RadNet from a “b-” rating to a “c” rating in a research report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.75.
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.
Read More: What is an overbought condition?
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.