RadNet, Inc. (NASDAQ:RDNT) is Weber Alan W’s Largest Position
Weber Alan W maintained its stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the second quarter, Holdings Channel reports. The fund owned 3,366,973 shares of the medical research company’s stock at the end of the second quarter. RadNet accounts for approximately 14.0% of Weber Alan W’s portfolio, making the stock its largest position. Weber Alan W owned about 0.07% of RadNet worth $26,094,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Algert Global LLC acquired a new stake in shares of RadNet during the second quarter valued at about $655,000. Spark Investment Management LLC raised its stake in shares of RadNet by 216.0% in the second quarter. Spark Investment Management LLC now owns 67,300 shares of the medical research company’s stock valued at $521,000 after buying an additional 46,000 shares during the period. Beck Mack & Oliver LLC raised its stake in shares of RadNet by 7.0% in the second quarter. Beck Mack & Oliver LLC now owns 235,401 shares of the medical research company’s stock valued at $1,824,000 after buying an additional 15,500 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of RadNet during the second quarter valued at about $102,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of RadNet by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 89,106 shares of the medical research company’s stock valued at $526,000 after buying an additional 2,684 shares during the period. Hedge funds and other institutional investors own 46.48% of the company’s stock.
Shares of RadNet, Inc. (RDNT) opened at 7.95 on Thursday. The company’s 50-day moving average is $7.69 and its 200 day moving average is $6.65. The company has a market capitalization of $375.37 million, a price-to-earnings ratio of 51.62 and a beta of 1.01. RadNet, Inc. has a 12 month low of $5.25 and a 12 month high of $8.70.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. RadNet had a net margin of 1.04% and a return on equity of 21.54%. The company had revenue of $230 million for the quarter, compared to the consensus estimate of $230.32 million. During the same quarter in the prior year, the company earned $0.09 EPS. RadNet’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that RadNet, Inc. will post $0.29 earnings per share for the current year.
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Separately, Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th.
In related news, insider Norman R. Hames sold 30,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $7.50, for a total value of $225,000.00. Following the transaction, the insider now owns 512,131 shares in the company, valued at approximately $3,840,982.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Norman R. Hames sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.05, for a total transaction of $141,000.00. Following the completion of the transaction, the insider now owns 586,203 shares in the company, valued at approximately $4,132,731.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,838 shares of company stock worth $1,955,532. 9.36% of the stock is owned by corporate insiders.
RadNet Company Profile
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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