Dimensional Fund Advisors LP boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,419,656 shares of the medical research company’s stock after buying an additional 43,960 shares during the period. Dimensional Fund Advisors LP owned approximately 3.01% of RadNet worth $8,376,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in RDNT. Robotti Robert increased its position in shares of RadNet by 0.8% in the first quarter. Robotti Robert now owns 748,416 shares of the medical research company’s stock valued at $4,416,000 after buying an additional 6,100 shares during the last quarter. Royce & Associates LP purchased a new position in shares of RadNet during the first quarter valued at about $118,000. Spark Investment Management LLC purchased a new position in shares of RadNet during the first quarter valued at about $125,000. Cadence Capital Management LLC increased its position in shares of RadNet by 32.5% in the first quarter. Cadence Capital Management LLC now owns 171,565 shares of the medical research company’s stock valued at $1,012,000 after buying an additional 42,107 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in shares of RadNet by 437.0% in the first quarter. Miracle Mile Advisors LLC now owns 100,573 shares of the medical research company’s stock valued at $593,000 after buying an additional 81,844 shares during the last quarter. 46.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of RadNet, Inc. (NASDAQ:RDNT) traded up 0.76% during trading on Wednesday, hitting $9.95. 173,529 shares of the company traded hands. The firm has a 50 day moving average price of $7.84 and a 200-day moving average price of $6.80. RadNet, Inc. has a one year low of $5.25 and a one year high of $10.02. The stock has a market cap of $470.30 million, a price-to-earnings ratio of 52.37 and a beta of 1.01.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $230 million during the quarter, compared to analysts’ expectations of $230.32 million. RadNet had a net margin of 1.04% and a return on equity of 19.98%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. Analysts predict that RadNet, Inc. will post $0.29 EPS for the current year.
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Several brokerages recently issued reports on RDNT. Jefferies Group LLC raised shares of RadNet from a “hold” rating to a “buy” rating and upped their price objective for the company from $7.00 to $12.00 in a research note on Tuesday. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th.
In other news, insider Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $7.38, for a total transaction of $73,800.00. Following the completion of the transaction, the insider now directly owns 457,131 shares of the company’s stock, valued at approximately $3,373,626.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $7.71, for a total transaction of $38,550.00. Following the transaction, the insider now directly owns 422,131 shares of the company’s stock, valued at $3,254,630.01. The disclosure for this sale can be found here. Insiders have sold a total of 92,578 shares of company stock valued at $722,042 over the last ninety days. Company insiders own 9.36% of the company’s stock.
About RadNet
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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