State of Alaska Department of Revenue decreased its position in shares of RadNet, Inc. (NASDAQ:RDNT – Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,430 shares of the medical research company’s stock after selling 520 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of RadNet worth $836,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. UBS Group AG raised its position in shares of RadNet by 48.8% during the 3rd quarter. UBS Group AG now owns 2,645 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 867 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of RadNet by 180.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,443 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 2,217 shares during the last quarter. First Manhattan Co. bought a new stake in shares of RadNet during the 1st quarter valued at $82,000. Captrust Financial Advisors raised its position in shares of RadNet by 54.0% during the 1st quarter. Captrust Financial Advisors now owns 4,123 shares of the medical research company’s stock valued at $92,000 after acquiring an additional 1,446 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of RadNet during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 69.03% of the company’s stock.
Insiders Place Their Bets
In other RadNet news, COO Norman R. Hames sold 10,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $31.12, for a total transaction of $311,200.00. Following the completion of the transaction, the chief operating officer now owns 278,485 shares in the company, valued at approximately $8,666,453.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RadNet news, COO Norman R. Hames sold 20,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.11, for a total transaction of $622,200.00. Following the completion of the transaction, the chief operating officer now owns 303,485 shares in the company, valued at approximately $9,441,418.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Norman R. Hames sold 10,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $31.12, for a total value of $311,200.00. Following the transaction, the chief operating officer now owns 278,485 shares of the company’s stock, valued at approximately $8,666,453.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,884 shares of company stock worth $1,373,113. Corporate insiders own 4.43% of the company’s stock.
RadNet Price Performance
RadNet (NASDAQ:RDNT – Free Report) last released its quarterly earnings data on Tuesday, May 9th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). RadNet had a negative net margin of 0.90% and a positive return on equity of 3.28%. The firm had revenue of $390.60 million during the quarter, compared to the consensus estimate of $371.34 million. During the same quarter in the prior year, the company earned ($0.15) EPS. RadNet’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that RadNet, Inc. will post 0.26 EPS for the current year.
Analysts Set New Price Targets
Several analysts have commented on RDNT shares. StockNews.com started coverage on shares of RadNet in a research report on Thursday, May 18th. They set a “hold” rating for the company. CJS Securities initiated coverage on shares of RadNet in a research report on Friday, March 31st. They set an “outperform” rating and a $30.00 target price for the company.
RadNet Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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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