New York State Common Retirement Fund Sells 55,036 Shares of RadNet, Inc. (RDNT)
New York State Common Retirement Fund lowered its holdings in RadNet, Inc. (NASDAQ:RDNT) by 63.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,500 shares of the medical research company’s stock after selling 55,036 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of RadNet worth $244,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Airain ltd bought a new stake in RadNet in the 2nd quarter valued at about $100,000. Campbell & CO Investment Adviser LLC bought a new stake in RadNet in the 2nd quarter valued at about $102,000. National Planning Corp boosted its holdings in RadNet by 9.8% in the 2nd quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 1,500 shares during the period. Prudential Financial Inc. boosted its holdings in RadNet by 15.2% in the 2nd quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock valued at $158,000 after purchasing an additional 2,700 shares during the period. Finally, American International Group Inc. boosted its holdings in RadNet by 7.0% in the 1st quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock valued at $135,000 after purchasing an additional 1,500 shares during the period. 50.32% of the stock is owned by hedge funds and other institutional investors.
Shares of RadNet, Inc. (RDNT) opened at $10.15 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88. The stock has a market cap of $469.10, a PE ratio of 32.83, a price-to-earnings-growth ratio of 3.31 and a beta of 0.87. RadNet, Inc. has a twelve month low of $5.25 and a twelve month high of $11.90.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, November 9th. The medical research company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $232.84 million. RadNet had a net margin of 1.21% and a return on equity of 23.73%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. equities research analysts expect that RadNet, Inc. will post 0.35 earnings per share for the current fiscal year.
In other news, VP Mark Stolper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $10.19, for a total value of $101,900.00. Following the completion of the transaction, the vice president now directly owns 145,319 shares in the company, valued at approximately $1,480,800.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John V. Crues sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $9.90, for a total transaction of $396,000.00. Following the completion of the transaction, the insider now owns 623,781 shares of the company’s stock, valued at $6,175,431.90. The disclosure for this sale can be found here. Insiders sold a total of 1,238,192 shares of company stock valued at $13,507,864 over the last 90 days. Corporate insiders own 9.36% of the company’s stock.
RDNT has been the subject of a number of recent research reports. Jefferies Group LLC raised shares of RadNet from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd. BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th.
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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