Wedge Capital Management L L P NC Boosts Holdings in RadNet Inc. (NASDAQ:RDNT)

Wedge Capital Management L L P NC raised its holdings in shares of RadNet Inc. (NASDAQ:RDNT) by 24.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,033 shares of the medical research company’s stock after acquiring an additional 7,369 shares during the quarter. Wedge Capital Management L L P NC’s holdings in RadNet were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Candriam Luxembourg S.C.A. purchased a new position in RadNet during the 1st quarter valued at about $1,001,000. Deutsche Bank AG grew its holdings in shares of RadNet by 72.4% during the fourth quarter. Deutsche Bank AG now owns 147,778 shares of the medical research company’s stock worth $1,501,000 after buying an additional 62,058 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of RadNet during the first quarter worth about $35,000. Principal Financial Group Inc. purchased a new stake in shares of RadNet during the fourth quarter worth about $123,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of RadNet by 485.7% during the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock worth $104,000 after buying an additional 6,965 shares in the last quarter. Hedge funds and other institutional investors own 63.23% of the company’s stock.

Shares of NASDAQ RDNT traded down $0.11 during midday trading on Friday, reaching $15.10. 204,100 shares of the stock were exchanged, compared to its average volume of 238,351. The company has a market capitalization of $762.43 million, a P/E ratio of 22.88, a P/E/G ratio of 6.15 and a beta of 1.02. RadNet Inc. has a 52-week low of $9.97 and a 52-week high of $16.54. The company has a current ratio of 0.80, a quick ratio of 0.72 and a debt-to-equity ratio of 5.09. The stock has a 50 day moving average price of $14.49 and a 200-day moving average price of $13.51.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. On average, analysts forecast that RadNet Inc. will post 0.33 earnings per share for the current year.

In related news, insider John V. Crues sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $15.07, for a total value of $753,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mark Stolper sold 20,703 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $15.15, for a total transaction of $313,650.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,370 shares of company stock valued at $1,615,605. Insiders own 6.10% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $17.75.

About RadNet

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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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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