Beck Mack & Oliver LLC lowered its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,901 shares of the company’s stock after selling 34,199 shares during the period. Beck Mack & Oliver LLC’s holdings in RadNet were worth $993,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of RadNet by 0.9% in the second quarter. American Century Companies Inc. now owns 178,333 shares of the company’s stock worth $952,000 after buying an additional 1,514 shares during the period. Geode Capital Management LLC boosted its stake in shares of RadNet by 0.8% in the first quarter. Geode Capital Management LLC now owns 227,019 shares of the company’s stock worth $1,096,000 after buying an additional 1,819 shares during the period. Cheyne Capital Management UK LLP boosted its stake in shares of 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 period. Bank of Montreal Can acquired a new stake in shares of RadNet during the second quarter worth approximately $102,000. Finally, Miracle Mile Advisors LLC boosted its stake in shares of RadNet by 42.2% in the second quarter. Miracle Mile Advisors LLC now owns 90,563 shares of the company’s stock worth $532,000 after buying an additional 26,883 shares during the period. 47.04% of the stock is currently owned by institutional investors and hedge funds.
RadNet Inc. (NASDAQ:RDNT) traded down 0.66% on Friday, hitting $7.52. 79,726 shares of the stock traded hands. The stock has a market cap of $349.17 million, a price-to-earnings ratio of 32.70 and a beta of 1.36. The firm’s 50-day moving average price is $7.13 and its 200-day moving average price is $5.86. RadNet Inc. has a 12-month low of $4.66 and a 12-month high of $7.86.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. RadNet had a net margin of 1.25% and a return on equity of 43.03%. The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $220.09 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that RadNet Inc. will post $0.26 EPS for the current fiscal year.
A number of equities research analysts have recently commented on RDNT shares. Zacks Investment Research cut shares of RadNet from a “buy” rating to a “hold” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and issued a $9.00 target price on shares of RadNet in a research report on Monday, August 29th. Finally, Jefferies Group reiterated a “hold” rating on shares of RadNet in a research report on Monday, July 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock 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 company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $6.41, for a total value of $192,300.00. Following the transaction, the insider now directly owns 963,709 shares in the company, valued at approximately $6,177,374.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Stolper sold 35,414 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $6.25, for a total transaction of $221,337.50. Following the completion of the transaction, the vice president now owns 170,319 shares in the company, valued at $1,064,493.75. The disclosure for this sale can be found here. 9.18% of the stock is currently owned by corporate 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.