Voya Investment Management LLC Raises Position in RadNet, Inc. (RDNT)
Voya Investment Management LLC boosted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 19.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,726 shares of the medical research company’s stock after purchasing an additional 3,546 shares during the quarter. Voya Investment Management LLC’s holdings in RadNet were worth $168,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in RDNT. Airain ltd bought a new stake in RadNet during the 2nd quarter worth about $100,000. Campbell & CO Investment Adviser LLC bought a new stake in RadNet during the 2nd quarter worth about $102,000. National Planning Corp raised its holdings in RadNet by 9.8% during the 2nd quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock worth $132,000 after purchasing an additional 1,500 shares during the last quarter. American International Group Inc. raised its holdings in RadNet by 7.0% during the 1st quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock worth $135,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in RadNet by 5.9% during the 1st quarter. Bank of America Corp DE now owns 26,580 shares of the medical research company’s stock worth $157,000 after purchasing an additional 1,477 shares during the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.
Shares of RadNet, Inc. (NASDAQ:RDNT) opened at $10.15 on Wednesday. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $469.10, a PE ratio of 32.83, a PEG ratio of 3.31 and a beta of 0.87. RadNet, Inc. has a 52 week low of $5.25 and a 52 week high of $11.90.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, November 9th. The medical research company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. RadNet had a return on equity of 23.73% and a net margin of 1.21%. The company had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $232.84 million. During the same period in the prior year, the business posted $0.11 EPS. RadNet’s revenue was up 1.3% on a year-over-year basis. sell-side analysts predict that RadNet, Inc. will post 0.35 earnings per share for the current year.
Several analysts have weighed in on the company. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. BidaskClub raised RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th. Finally, Jefferies Group LLC raised RadNet from a “hold” rating to a “buy” rating and upped their price target for the company from $7.00 to $12.00 in a research note on Tuesday, August 22nd.
In related news, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total transaction of $12,045,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John V. Crues sold 40,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $9.90, for a total value of $396,000.00. Following the sale, 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 1,238,192 shares of company stock valued at $13,507,864. 9.36% of the stock is owned by company insiders.
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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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