Allianz Asset Management GmbH lowered its holdings in shares of RadNet Inc. (NASDAQ:RDNT) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,777 shares of the medical research company’s stock after selling 20,180 shares during the period. Allianz Asset Management GmbH owned 0.92% of RadNet worth $6,354,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Quantamental Technologies LLC purchased a new position in RadNet during the 1st quarter worth $34,000. Aperio Group LLC purchased a new position in shares of RadNet in the 2nd quarter valued at about $36,000. BNP Paribas Arbitrage SA increased its holdings in shares of RadNet by 485.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 6,965 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of RadNet in the 1st quarter valued at about $116,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of RadNet by 11.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after purchasing an additional 1,132 shares in the last quarter. Hedge funds and other institutional investors own 61.62% of the company’s stock.
NASDAQ RDNT opened at $15.04 on Friday. The firm has a market capitalization of $709.80 million, a price-to-earnings ratio of 22.79, a PEG ratio of 5.72 and a beta of 0.93. The company’s 50 day moving average price is $14.56 and its 200 day moving average price is $13.59. RadNet Inc. has a one year low of $9.97 and a one year high of $16.54. The company has a debt-to-equity ratio of 5.09, a quick ratio of 0.80 and a current ratio of 0.80.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $289.10 million during the quarter, compared to the consensus estimate of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. Sell-side analysts forecast that RadNet Inc. will post 0.33 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub cut shares of RadNet from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, TheStreet cut shares of RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. RadNet currently has a consensus rating of “Hold” and a consensus price target of $17.75.
In related news, VP Mark Stolper sold 20,703 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $15.15, for a total value of $313,650.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Md Sherman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $15.19, for a total transaction of $455,700.00. Following the completion of the sale, the director now directly owns 259,083 shares of the company’s stock, valued at approximately $3,935,470.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,703 shares of company stock valued at $1,784,650. 6.10% of the stock is currently owned by corporate insiders.
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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