Cheyne Capital Management UK LLP increased its position in RadNet Inc. (NASDAQ:RDNT) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 268,907 shares of the company’s stock after buying an additional 16,098 shares during the period. RadNet comprises approximately 1.2% of Cheyne Capital Management UK LLP’s holdings, making the stock its 11th largest position. Cheyne Capital Management UK LLP’s holdings in RadNet were worth $1,437,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of RDNT. American Century Companies Inc. raised its stake in 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. Bank of Montreal Can bought a new stake in RadNet during the second quarter worth about $102,000. Miracle Mile Advisors LLC raised its stake in 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. Adams Diversified Equity Fund Inc. bought a new stake in RadNet during the second quarter worth about $330,000. Finally, Eqis Capital Management Inc. raised 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 period. 47.07% of the stock is owned by institutional investors and hedge funds.
Shares of RadNet Inc. (NASDAQ:RDNT) traded up 3.06% during trading on Friday, reaching $7.40. 140,611 shares of the company traded hands. The stock’s 50 day moving average price is $6.79 and its 200-day moving average price is $5.69. The stock has a market cap of $343.60 million, a P/E ratio of 32.17 and a beta of 1.50. RadNet Inc. has a 12 month low of $4.66 and a 12 month high of $7.50.
RadNet (NASDAQ:RDNT) last released its earnings results on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $220.09 million. RadNet had a return on equity of 43.03% and a net margin of 1.25%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. On average, equities research analysts expect that RadNet Inc. will post $0.26 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $9.00 price target on shares of RadNet in a research report on Saturday, September 3rd. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Saturday, August 13th. Jefferies Group reissued a “hold” rating on shares of RadNet in a research report on Friday, August 5th. Finally, Sterne Agee CRT began coverage on shares of RadNet in a research report on Thursday, June 2nd. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. RadNet has a consensus rating of “Buy” and an average target price of $8.25.
In other news, insider Stephen M. Forthuber sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $7.18, for a total transaction of $143,600.00. Following the sale, the insider now owns 397,724 shares in the company, valued at approximately $2,855,658.32. 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 company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $6.25, for a total value of $221,337.50. Following the sale, the vice president now owns 170,319 shares in the company, valued at approximately $1,064,493.75. The disclosure for this sale can be found here. Insiders own 9.18% of the company’s stock.
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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