Cheyne Capital Management UK LLP lessened its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,896 shares of the medical research company’s stock after selling 13,100 shares during the quarter. RadNet accounts for 3.6% of Cheyne Capital Management UK LLP’s investment portfolio, making the stock its 12th biggest position. Cheyne Capital Management UK LLP’s holdings in RadNet were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the business. Financial Gravity Companies Inc. acquired a new position in shares of RadNet in the fourth quarter worth about $60,000. Beck Mack & Oliver LLC lifted its stake in shares of RadNet by 4.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 538,903 shares of the medical research company’s stock worth $5,481,000 after acquiring an additional 23,383 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of RadNet by 46.8% in the fourth quarter. Rhumbline Advisers now owns 53,147 shares of the medical research company’s stock worth $541,000 after acquiring an additional 16,935 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of RadNet by 31.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 42,511 shares of the medical research company’s stock worth $432,000 after acquiring an additional 10,182 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of RadNet by 157.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock worth $37,000 after acquiring an additional 2,218 shares in the last quarter. Institutional investors own 59.85% of the company’s stock.
Several brokerages recently weighed in on RDNT. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Zacks Investment Research lowered RadNet from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.50.
NASDAQ:RDNT opened at $13.47 on Monday. The company has a market cap of $658.23 million, a PE ratio of 46.45, a P/E/G ratio of 3.24 and a beta of 1.19. RadNet Inc. has a 52 week low of $9.65 and a 52 week high of $16.54. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.12 and a quick ratio of 1.12.
RadNet (NASDAQ:RDNT) last posted its earnings results on Friday, November 9th. The medical research company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The company had revenue of $242.10 million for the quarter, compared to the consensus estimate of $240.07 million. RadNet had a negative net margin of 0.44% and a positive return on equity of 14.62%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Equities research analysts anticipate that RadNet Inc. will post 0.25 EPS for the current year.
In related news, insider Norman R. Hames sold 15,000 shares of the stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $12.57, for a total value of $188,550.00. Following the completion of the transaction, the insider now directly owns 574,000 shares of the company’s stock, valued at approximately $7,215,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $12.68, for a total value of $63,400.00. Following the completion of the transaction, the insider now directly owns 569,000 shares of the company’s stock, valued at $7,214,920. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $407,950 over the last ninety days. Corporate insiders own 7.56% of the company’s stock.
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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