Bank of New York Mellon Corp raised its stake in RadNet Inc. (NASDAQ:RDNT) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,229 shares of the medical research company’s stock after buying an additional 6,380 shares during the period. Bank of New York Mellon Corp owned approximately 0.29% of RadNet worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RDNT. Schwab Charles Investment Management Inc. increased its holdings in RadNet by 18.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,032 shares of the medical research company’s stock valued at $1,264,000 after buying an additional 25,300 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in RadNet by 19.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 142,781 shares of the medical research company’s stock valued at $1,107,000 after buying an additional 23,018 shares in the last quarter. Royce & Associates LP increased its holdings in RadNet by 50.0% in the second quarter. Royce & Associates LP now owns 30,000 shares of the medical research company’s stock valued at $233,000 after buying an additional 10,000 shares in the last quarter. Prudential Financial Inc. increased its holdings in RadNet by 15.2% in the second quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock valued at $158,000 after buying an additional 2,700 shares in the last quarter. Finally, Airain ltd purchased a new position in RadNet in the second quarter valued at about $100,000. 53.16% of the stock is owned by institutional investors.

RadNet Inc. (RDNT) opened at $10.15 on Wednesday. The company has a debt-to-equity ratio of 7.88, a quick ratio of 1.29 and a current ratio of 1.29. RadNet Inc. has a 12 month low of $5.25 and a 12 month high of $11.90. The firm has a market cap of $483.38, a P/E ratio of 44.13, a PEG ratio of 2.31 and a beta of 0.83.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. RadNet had a net margin of 1.21% and a return on equity of 23.73%. The business had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $232.84 million. During the same period last year, the company posted $0.11 EPS. The company’s revenue was up 1.3% on a year-over-year basis. research analysts predict that RadNet Inc. will post 0.35 earnings per share for the current year.

In other news, Director John V. Crues sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $10.08, for a total transaction of $201,600.00. Following the completion of the transaction, the director now directly owns 563,781 shares of the company’s stock, valued at approximately $5,682,912.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John V. Crues sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $9.90, for a total transaction of $396,000.00. Following the transaction, the insider now directly owns 623,781 shares of the company’s stock, valued at $6,175,431.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,084 shares of company stock valued at $1,321,587. Corporate insiders own 9.36% of the company’s stock.

A number of research analysts have issued reports on the stock. BidaskClub raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, January 4th. Finally, TheStreet cut shares of RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th.

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RadNet 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.

Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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