Arizona State Retirement System Increases Stake in RadNet, Inc. (NASDAQ:RDNT)

Arizona State Retirement System boosted its position in shares of RadNet, Inc. (NASDAQ:RDNT – Get Rating) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,554 shares of the medical research company’s stock after acquiring an additional 804 shares during the quarter. Arizona State Retirement System’s holdings in RadNet were worth $274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in RadNet by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 25,492 shares of the medical research company’s stock worth $441,000 after buying an additional 465 shares during the period. Yousif Capital Management LLC grew its stake in shares of RadNet by 1.9% during the 3rd quarter. Yousif Capital Management LLC now owns 40,774 shares of the medical research company’s stock worth $830,000 after purchasing an additional 759 shares during the period. UBS Group AG grew its stake 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 worth $54,000 after purchasing an additional 867 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of RadNet by 6.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,171 shares of the medical research company’s stock worth $329,000 after purchasing an additional 943 shares during the period. Finally, Amalgamated Bank grew its stake in shares of RadNet by 4.3% during the 3rd quarter. Amalgamated Bank now owns 23,807 shares of the medical research company’s stock worth $484,000 after purchasing an additional 989 shares during the period. 68.27% of the stock is currently owned by institutional investors.

RadNet Trading Up 1.1 %

NASDAQ RDNT opened at $28.37 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $1.66 billion, a P/E ratio of -118.20 and a beta of 1.64. The firm’s 50-day moving average is $26.50 and its two-hundred day moving average is $22.28. RadNet, Inc. has a 12 month low of $12.03 and a 12 month high of $29.47.

RadNet (NASDAQ:RDNT – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $371.34 million. RadNet had a negative net margin of 0.90% and a positive return on equity of 3.28%. RadNet’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RDNT shares. CJS Securities assumed coverage on shares of RadNet in a research note on Friday, March 31st. They set an “outperform” rating and a $30.00 price objective on the stock. StockNews.com initiated coverage on RadNet in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Raymond James upgraded RadNet from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Friday, March 3rd.

RadNet Company Profile

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RadNet, Inc provides freestanding, fixed-site outpatient diagnostic imaging services in the United States. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The firm offers magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures.