Adams Diversified Equity Fund Inc. decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 44.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,500 shares of the medical research company’s stock after selling 71,800 shares during the period. Adams Diversified Equity Fund Inc. owned about 0.19% of RadNet worth $1,057,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Susquehanna International Group LLP increased its stake in RadNet by 336.0% during the second quarter. Susquehanna International Group LLP now owns 33,043 shares of the medical research company’s stock valued at $256,000 after purchasing an additional 47,043 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in RadNet by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 33,305 shares of the medical research company’s stock valued at $258,000 after purchasing an additional 1,997 shares during the last quarter. State Street Corp increased its stake in RadNet by 9.2% during the second quarter. State Street Corp now owns 585,218 shares of the medical research company’s stock valued at $4,538,000 after purchasing an additional 49,186 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in RadNet by 104.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 102,000 shares of the medical research company’s stock valued at $789,000 after purchasing an additional 52,099 shares during the last quarter. Finally, Parallax Volatility Advisers L.P. increased its stake in RadNet by 122.0% during the second quarter. Parallax Volatility Advisers L.P. now owns 21,122 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 117,148 shares during the last quarter. Hedge funds and other institutional investors own 48.82% of the company’s stock.

RadNet, Inc. (NASDAQ RDNT) traded down 2.28% during mid-day trading on Wednesday, reaching $10.70. 24,658 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $11.21 and its 200 day moving average price is $8.63. RadNet, Inc. has a 12 month low of $5.25 and a 12 month high of $11.90. The stock has a market capitalization of $505.75 million, a PE ratio of 56.32 and a beta of 0.95.

RadNet (NASDAQ:RDNT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $230.00 million during the quarter, compared to analyst estimates of $230.32 million. RadNet had a return on equity of 19.98% and a net margin of 1.04%. RadNet’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Equities research analysts predict that RadNet, Inc. will post $0.30 EPS for the current year.

In related news, insider Stephen M. Forthuber sold 18,500 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $8.38, for a total value of $155,030.00. Following the completion of the transaction, the insider now directly owns 406,922 shares in the company, valued at $3,410,006.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $10.95, for a total value of $12,045,000.00. The disclosure for this sale can be found here. Insiders sold 1,236,900 shares of company stock valued at $13,452,504 over the last 90 days. 9.36% of the stock is currently owned by corporate insiders.

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Several analysts have weighed in on the stock. TheStreet lowered shares of RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Finally, Jefferies Group LLC upgraded shares of RadNet from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.00 to $12.00 in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.00.

RadNet Company Profile

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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Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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