Spark Investment Management LLC raised its stake in RadNet, Inc. (NASDAQ:RDNT) by 216.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,300 shares of the medical research company’s stock after buying an additional 46,000 shares during the period. Spark Investment Management LLC owned approximately 0.14% of RadNet worth $521,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of RDNT. Campbell & CO Investment Adviser LLC acquired a new position in RadNet during the second quarter valued at $102,000. Prudential Financial Inc. increased its position in RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock valued at $104,000 after buying an additional 4,000 shares during the last quarter. Royce & Associates LP acquired a new position in RadNet during the first quarter valued at $118,000. American International Group Inc. increased its position in RadNet by 7.0% in the first quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock valued at $135,000 after buying an additional 1,500 shares during the last quarter. Finally, Bank of America Corp DE increased its position in RadNet by 5.9% in the first quarter. Bank of America Corp DE now owns 26,580 shares of the medical research company’s stock valued at $157,000 after buying an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 46.48% of the company’s stock.
RadNet, Inc. (NASDAQ:RDNT) opened at 7.95 on Friday. RadNet, Inc. has a 1-year low of $5.25 and a 1-year high of $8.70. The company has a market capitalization of $375.76 million, a P/E ratio of 41.84 and a beta of 1.01. The firm has a 50-day moving average price of $7.72 and a 200 day moving average price of $6.68.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The company had revenue of $230 million for the quarter, compared to analyst estimates of $230.32 million. During the same period last year, the company earned $0.09 earnings per share. RadNet’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that RadNet, Inc. will post $0.29 EPS for the current year.
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Separately, Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th.
In other RadNet news, insider Norman R. Hames sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.05, for a total value of $141,000.00. Following the sale, the insider now directly owns 586,203 shares of the company’s stock, valued at $4,132,731.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $7.71, for a total value of $38,550.00. Following the completion of the sale, the insider now directly owns 422,131 shares in the company, valued at $3,254,630.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 262,838 shares of company stock worth $1,955,532. 9.36% of the stock is owned by corporate insiders.
RadNet Company Profile
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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