Beck Mack & Oliver LLC boosted its holdings in shares of RadNet Inc. (NASDAQ:RDNT) by 27.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 688,153 shares of the medical research company’s stock after buying an additional 149,250 shares during the quarter. Beck Mack & Oliver LLC’s holdings in RadNet were worth $8,526,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Northern Trust Corp raised its position in RadNet by 0.3% during the 4th quarter. Northern Trust Corp now owns 518,399 shares of the medical research company’s stock worth $5,272,000 after buying an additional 1,521 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in RadNet by 157.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock worth $37,000 after buying an additional 2,218 shares during the last quarter. Adalta Capital Management LLC raised its position in RadNet by 8.0% during the 4th quarter. Adalta Capital Management LLC now owns 32,581 shares of the medical research company’s stock worth $331,000 after buying an additional 2,400 shares during the last quarter. Quantamental Technologies LLC purchased a new position in RadNet during the 1st quarter worth approximately $34,000. Finally, Financial Gravity Wealth Inc. purchased a new position in RadNet during the 1st quarter worth approximately $35,000. 63.55% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on RDNT shares. ValuEngine lowered shares of RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James lowered shares of RadNet from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $17.50 in a research report on Friday, March 15th. They noted that the move was a valuation call. BidaskClub raised shares of RadNet from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research lowered shares of RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.75.
In other news, Director David L. Swartz sold 11,556 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $14.72, for a total transaction of $170,104.32. Following the sale, the director now owns 265,855 shares of the company’s stock, valued at approximately $3,913,385.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Md Sherman sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.89, for a total transaction of $277,800.00. Following the sale, the director now directly owns 279,720 shares in the company, valued at approximately $3,885,310.80. The disclosure for this sale can be found here. Insiders have sold a total of 46,556 shares of company stock worth $672,754 in the last ninety days. Corporate insiders own 7.56% of the company’s stock.
Shares of NASDAQ RDNT opened at $13.20 on Tuesday. The company has a market cap of $630.39 million, a PE ratio of 20.00, a PEG ratio of 4.63 and a beta of 1.16. RadNet Inc. has a 12 month low of $9.97 and a 12 month high of $16.54. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.87 and a current ratio of 0.87.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.41. The business had revenue of $257.21 million for the quarter, compared to analysts’ expectations of $248.21 million. RadNet had a net margin of 3.31% and a return on equity of 27.51%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) EPS. As a group, analysts forecast that RadNet Inc. will post 0.34 EPS for the current fiscal year.
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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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