Wedge Capital Management L L P NC cut its holdings in RadNet Inc. (NASDAQ:RDNT) by 54.2% in the third quarter, Holdings Channel reports. The institutional investor owned 16,978 shares of the medical research company’s stock after selling 20,055 shares during the quarter. Wedge Capital Management L L P NC’s holdings in RadNet were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RDNT. Russell Investments Group Ltd. purchased a new stake in shares of RadNet in the second quarter valued at approximately $8,699,000. Beck Mack & Oliver LLC boosted its stake in shares of RadNet by 54.8% in the second quarter. Beck Mack & Oliver LLC now owns 1,065,134 shares of the medical research company’s stock worth $14,688,000 after acquiring an additional 376,981 shares during the last quarter. Cortina Asset Management LLC boosted its stake in shares of RadNet by 32.5% in the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock worth $16,096,000 after acquiring an additional 286,388 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of RadNet by 31.9% in the second quarter. Global Alpha Capital Management Ltd. now owns 1,183,429 shares of the medical research company’s stock worth $16,319,000 after acquiring an additional 286,281 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of RadNet in the second quarter worth approximately $3,332,000. Institutional investors and hedge funds own 62.67% of the company’s stock.

Shares of NASDAQ:RDNT traded down $0.17 during trading on Friday, reaching $16.08. The stock had a trading volume of 99,300 shares, compared to its average volume of 236,912. RadNet Inc. has a 1-year low of $9.97 and a 1-year high of $16.66. The company has a debt-to-equity ratio of 5.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $797.02 million, a PE ratio of 24.36, a PEG ratio of 6.42 and a beta of 0.86. The business has a fifty day moving average price of $14.93 and a 200-day moving average price of $14.04.

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

A number of brokerages have recently issued reports on RDNT. BidaskClub lowered RadNet from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.75.

In related news, VP Mark Stolper sold 20,703 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $15.15, for a total value of $313,650.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Md Sherman sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.19, for a total value of $455,700.00. Following the completion of the sale, the director now owns 259,083 shares in the company, valued at approximately $3,935,470.77. The disclosure for this sale can be found here. Insiders sold 100,703 shares of company stock worth $1,522,850 in the last 90 days. Company insiders own 6.10% of the company’s stock.

RadNet Company Profile

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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