Candriam Luxembourg S.C.A. boosted its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 100.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 256,370 shares of the medical research company’s stock after buying an additional 128,578 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in RadNet were worth $5,204,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC acquired a new position in RadNet during the fourth quarter valued at approximately $129,000. SG Americas Securities LLC acquired a new position in RadNet during the fourth quarter valued at approximately $152,000. Zebra Capital Management LLC boosted its position in RadNet by 35.5% during the third quarter. Zebra Capital Management LLC now owns 14,077 shares of the medical research company’s stock valued at $203,000 after purchasing an additional 3,691 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in RadNet by 30.1% during the second quarter. UBS Asset Management Americas Inc. now owns 17,642 shares of the medical research company’s stock valued at $243,000 after purchasing an additional 4,080 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in RadNet during the fourth quarter valued at approximately $256,000. 63.43% of the stock is owned by hedge funds and other institutional investors.
RDNT has been the topic of several research analyst reports. Zacks Investment Research lowered RadNet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. ValuEngine upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. BidaskClub lowered RadNet from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Sidoti upped their price objective on RadNet from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $19.50.
NASDAQ:RDNT opened at $22.87 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The stock’s 50 day moving average price is $21.26 and its two-hundred day moving average price is $17.33. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 5.32 and a beta of 0.92. RadNet Inc. has a 12-month low of $11.60 and a 12-month high of $23.35.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, November 12th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.05). The business had revenue of $292.70 million during the quarter, compared to the consensus estimate of $283.39 million. RadNet had a net margin of 3.02% and a return on equity of 16.52%. RadNet’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Equities research analysts expect that RadNet Inc. will post 0.21 EPS for the current year.
In other news, insider Norman R. Hames sold 10,327 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $18.92, for a total transaction of $195,386.84. Following the transaction, the insider now owns 532,691 shares in the company, valued at $10,078,513.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John V. Crues sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.01, for a total value of $360,200.00. Following the transaction, the director now owns 414,097 shares in the company, valued at approximately $7,457,886.97. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.
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