Trading Report: The RadNet Inc. (RDNT) Stake Raised by California State Teachers Retirement System

The RadNet Inc. (RDNT) Stake Raised by California State Teachers Retirement System

California State Teachers Retirement System raised its position in RadNet Inc. (NASDAQ:RDNT) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 77,880 shares of the company’s stock after buying an additional 4,349 shares during the period. California State Teachers Retirement System owned about 0.16% of RadNet worth $416,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Eqis Capital Management Inc. increased its stake in RadNet by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 1,267,006 shares of the company’s stock worth $6,766,000 after buying an additional 32,250 shares during the last quarter. State Street Corp increased its stake in RadNet by 5.6% in the first quarter. State Street Corp now owns 535,848 shares of the company’s stock worth $2,589,000 after buying an additional 28,523 shares during the last quarter. Redwood Investments LLC increased its stake in RadNet by 32.9% in the second quarter. Redwood Investments LLC now owns 442,430 shares of the company’s stock worth $2,363,000 after buying an additional 109,563 shares during the last quarter. Robotti Robert increased its stake in RadNet by 9.0% in the first quarter. Robotti Robert now owns 434,175 shares of the company’s stock worth $2,097,000 after buying an additional 35,850 shares during the last quarter. Finally, Cheyne Capital Management UK LLP increased its stake in RadNet by 6.4% in the second quarter. Cheyne Capital Management UK LLP now owns 268,907 shares of the company’s stock worth $1,437,000 after buying an additional 16,098 shares during the last quarter. 47.04% of the stock is currently owned by institutional investors.

RadNet Inc. (NASDAQ:RDNT) traded up 0.94% during midday trading on Thursday, reaching $7.55. The company had a trading volume of 29,596 shares. The company has a market capitalization of $350.56 million, a PE ratio of 32.83 and a beta of 1.36. The stock has a 50-day moving average price of $7.10 and a 200 day moving average price of $5.84. RadNet Inc. has a 12-month low of $4.66 and a 12-month high of $7.86.

RadNet (NASDAQ:RDNT) last issued its earnings results on Tuesday, August 9th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The firm had revenue of $224.60 million for the quarter, compared to the consensus estimate of $220.09 million. RadNet had a return on equity of 43.03% and a net margin of 1.25%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. Equities analysts forecast that RadNet Inc. will post $0.26 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. B. Riley restated a “buy” rating and set a $9.00 target price on shares of RadNet in a research report on Saturday, September 3rd. Jefferies Group restated a “hold” rating on shares of RadNet in a research report on Friday, August 5th. Finally, Zacks Investment Research downgraded RadNet from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. RadNet currently has a consensus rating of “Hold” and an average price target of $8.25.

In other RadNet news, insider Jeffrey L. Linden sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total value of $192,300.00. Following the sale, the insider now owns 963,709 shares of the company’s stock, valued at approximately $6,177,374.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Stolper sold 35,414 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $6.25, for a total value of $221,337.50. Following the completion of the sale, the vice president now directly owns 170,319 shares in the company, valued at approximately $1,064,493.75. The disclosure for this sale can be found here. 9.18% of the stock is owned by company insiders.

RadNet Company Profile

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

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