Spark Investment Management LLC boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 216.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,300 shares of the medical research company’s stock after buying an additional 46,000 shares during the period. Spark Investment Management LLC’s holdings in RadNet were worth $521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of RadNet by 5.9% in the first quarter. Bank of America Corp DE now owns 26,580 shares of the medical research company’s stock worth $157,000 after buying an additional 1,477 shares in the last quarter. American International Group Inc. raised its stake in shares of RadNet by 7.0% in the first quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock worth $135,000 after buying an additional 1,500 shares in the last quarter. 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 worth $526,000 after buying an additional 2,684 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock worth $104,000 after buying an additional 4,000 shares in the last quarter. Finally, Robotti Robert raised its stake in shares of RadNet by 0.8% in the first quarter. Robotti Robert now owns 748,416 shares of the medical research company’s stock worth $4,416,000 after buying an additional 6,100 shares in the last quarter. 46.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RadNet, Inc. (NASDAQ RDNT) opened at 7.95 on Friday. The firm has a market capitalization of $375.76 million, a price-to-earnings ratio of 41.84 and a beta of 1.01. The stock has a 50 day moving average price of $7.72 and a 200-day moving average price of $6.68. RadNet, Inc. has a 52 week low of $5.25 and a 52 week high of $8.70.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The firm had revenue of $230 million during the quarter, compared to the consensus estimate of $230.32 million. During the same period last year, the business posted $0.09 EPS. RadNet’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that RadNet, Inc. will post $0.29 EPS for the current year.

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Separately, Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th.

In other RadNet news, insider Norman R. Hames sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $7.71, for a total transaction of $38,550.00. Following the sale, the insider now owns 422,131 shares in the company, valued at approximately $3,254,630.01. The sale was disclosed in a legal 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 on Tuesday, May 16th. The shares were sold at an average price of $7.05, for a total value of $141,000.00. Following the sale, 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 have sold 262,838 shares of company stock worth $1,955,532. 9.36% of the stock is owned by 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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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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