Cortina Asset Management LLC grew its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 32.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,167,254 shares of the medical research company’s stock after buying an additional 286,388 shares during the period. RadNet accounts for approximately 1.0% of Cortina Asset Management LLC’s portfolio, making the stock its 28th largest holding. Cortina Asset Management LLC owned approximately 2.33% of RadNet worth $16,096,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in RadNet in the first quarter worth $34,000. Financial Gravity Wealth Inc. bought a new stake in RadNet in the 1st quarter worth approximately $35,000. PNC Financial Services Group Inc. bought a new stake in RadNet in the 4th quarter worth approximately $36,000. Bell & Brown Wealth Advisors LLC bought a new stake in RadNet in the 4th quarter worth approximately $102,000. Finally, BNP Paribas Arbitrage SA increased its stake in RadNet by 485.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock worth $104,000 after acquiring an additional 6,965 shares during the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.
RDNT has been the subject of several research reports. TheStreet cut TIM Participacoes from a “b” rating to a “c+” rating in a report on Tuesday, June 4th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.75.
In related news, insider Michael N. Murdock sold 21,667 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the completion of the sale, the insider now directly owns 100,575 shares in the company, valued at $1,330,607.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John V. Crues sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $13.15, for a total transaction of $263,000.00. Following the sale, the insider now owns 524,097 shares of the company’s stock, valued at $6,891,875.55. The disclosure for this sale can be found here. Insiders have sold 61,667 shares of company stock valued at $811,454 over the last 90 days. 6.10% of the stock is currently owned by insiders.
NASDAQ RDNT traded up $0.07 during trading on Tuesday, reaching $14.41. 76,482 shares of the company’s stock were exchanged, compared to its average volume of 254,814. The firm has a market cap of $721.67 million, a PE ratio of 21.83, a P/E/G ratio of 5.62 and a beta of 1.10. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50 day simple moving average of $13.61. RadNet Inc. has a 1 year low of $9.97 and a 1 year high of $16.54.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $271.50 million during the quarter, compared to the consensus estimate of $256.30 million. RadNet had a return on equity of 22.38% and a net margin of 3.53%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, research analysts anticipate that RadNet Inc. will post 0.35 earnings per share for the current fiscal year.
RadNet Company Profile
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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