Candriam Luxembourg S.C.A. purchased a new stake in RadNet Inc. (NASDAQ:RDNT) during the 1st quarter, HoldingsChannel reports. The firm purchased 80,792 shares of the medical research company’s stock, valued at approximately $1,001,000.
Several other hedge funds have also added to or reduced their stakes in the company. Beck Mack & Oliver LLC increased its stake in RadNet by 27.7% during the 1st quarter. Beck Mack & Oliver LLC now owns 688,153 shares of the medical research company’s stock worth $8,526,000 after buying an additional 149,250 shares during the period. Quantamental Technologies LLC purchased a new stake in RadNet during the 1st quarter worth $34,000. SG Americas Securities LLC purchased a new stake in RadNet during the 1st quarter worth $116,000. BNP Paribas Arbitrage SA increased its stake in RadNet by 485.7% during the 1st 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 during the period. Finally, Financial Gravity Wealth Inc. purchased a new stake in RadNet during the 1st quarter worth $35,000. Institutional investors and hedge funds own 64.05% of the company’s stock.
Several equities research analysts recently issued reports on RDNT shares. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. BidaskClub downgraded shares of RadNet from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Raymond James downgraded shares of RadNet from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $16.00 to $17.50 in a research note on Friday, March 15th. They noted that the move was a valuation call. ValuEngine downgraded shares of RadNet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.75.
RDNT opened at $13.17 on Thursday. The stock has a market capitalization of $681.61 million, a PE ratio of 19.95, a P/E/G ratio of 4.93 and a beta of 1.16. RadNet Inc. has a 1-year low of $9.97 and a 1-year high of $16.54. The company has a quick ratio of 0.87, a current ratio of 0.72 and a debt-to-equity ratio of 4.74.
RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, May 9th. The medical research company reported ($0.08) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). The company had revenue of $271.50 million during the quarter, compared to the consensus estimate of $256.30 million. RadNet had a net margin of 3.53% and a return on equity of 22.38%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) EPS. On average, equities analysts expect that RadNet Inc. will post 0.34 EPS for the current year.
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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