RadNet, Inc. (RDNT) Holdings Raised by Prudential Financial Inc.
Prudential Financial Inc. boosted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,410 shares of the medical research company’s stock after acquiring an additional 2,700 shares during the period. Prudential Financial Inc.’s holdings in RadNet were worth $158,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Royce & Associates LP raised its stake in RadNet by 50.0% during the 2nd quarter. Royce & Associates LP now owns 30,000 shares of the medical research company’s stock worth $233,000 after acquiring an additional 10,000 shares during the period. Cadence Capital Management LLC raised its stake in RadNet by 5.8% during the 2nd quarter. Cadence Capital Management LLC now owns 181,462 shares of the medical research company’s stock worth $1,406,000 after acquiring an additional 9,897 shares during the period. State Board of Administration of Florida Retirement System raised its stake in RadNet by 19.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 142,781 shares of the medical research company’s stock worth $1,107,000 after acquiring an additional 23,018 shares during the period. National Planning Corp raised its stake in RadNet by 9.8% during the 2nd quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock worth $132,000 after acquiring an additional 1,500 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in RadNet by 18.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 163,032 shares of the medical research company’s stock worth $1,264,000 after acquiring an additional 25,300 shares during the period. Institutional investors own 48.71% of the company’s stock.
RadNet, Inc. (RDNT) opened at 11.30 on Tuesday. RadNet, Inc. has a 1-year low of $5.25 and a 1-year high of $11.90. The firm’s 50-day moving average is $11.08 and its 200 day moving average is $8.20. The stock has a market capitalization of $534.11 million, a price-to-earnings ratio of 59.47 and a beta of 0.95.
RadNet (NASDAQ:RDNT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The business had revenue of $230.00 million during the quarter, compared to the consensus estimate of $230.32 million. During the same period last year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that RadNet, Inc. will post $0.30 EPS for the current fiscal year.
A number of equities research analysts have commented on RDNT shares. Zacks Investment Research cut shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. TheStreet upgraded shares of RadNet from a “c” rating to a “b-” rating in a research note on Thursday, August 24th. Jefferies Group LLC upgraded shares of RadNet from a “hold” rating to a “buy” rating and raised their target price for the stock from $7.00 to $12.00 in a research note on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.00.
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In other news, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total transaction of $12,045,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $10.98, for a total value of $274,500.00. Following the transaction, the director now owns 274,108 shares of the company’s stock, valued at $3,009,705.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,236,900 shares of company stock valued at $13,452,504. Company insiders own 9.36% of the company’s stock.
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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