Wells Fargo & Company MN Holds Stake in RadNet, Inc. (NASDAQ:RDNT)

Wells Fargo & Company MN maintained its stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,189 shares of the medical research company’s stock at the end of the first quarter. Wells Fargo & Company MN owned about 0.07% of RadNet worth $208,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of RadNet by 31.2% in the fourth quarter. Renaissance Technologies LLC now owns 570,101 shares of the medical research company’s stock valued at $3,677,000 after buying an additional 135,701 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RadNet by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,696 shares of the medical research company’s stock valued at $8,873,000 after buying an additional 103,885 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of RadNet by 282.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 119,763 shares of the medical research company’s stock valued at $772,000 after buying an additional 88,483 shares in the last quarter. State Street Corp boosted its stake in shares of RadNet by 9.1% in the fourth quarter. State Street Corp now owns 614,416 shares of the medical research company’s stock valued at $3,962,000 after buying an additional 51,027 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in shares of RadNet by 17.0% in the first quarter. Beck Mack & Oliver LLC now owns 219,901 shares of the medical research company’s stock valued at $1,297,000 after buying an additional 32,000 shares in the last quarter. Institutional investors and hedge funds own 46.48% of the company’s stock.

Shares of RadNet, Inc. (RDNT) opened at 8.00 on Wednesday. The stock’s 50 day moving average is $7.66 and its 200 day moving average is $6.61. The stock has a market capitalization of $377.73 million, a PE ratio of 51.95 and a beta of 1.01. RadNet, Inc. has a 12 month low of $5.25 and a 12 month high of $8.70.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $230 million for the quarter, compared to analyst estimates of $230.32 million. RadNet had a net margin of 0.86% and a return on equity of 19.20%. RadNet’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Analysts anticipate that RadNet, Inc. will post $0.24 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th.

In other RadNet news, insider Norman R. Hames sold 20,000 shares of RadNet stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $7.05, for a total transaction of $141,000.00. Following the transaction, the insider now directly owns 586,203 shares of the company’s stock, valued at $4,132,731.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $7.71, for a total transaction of $38,550.00. Following the transaction, the insider now directly owns 422,131 shares in the company, valued at $3,254,630.01. The disclosure for this sale can be found here. Insiders have sold 262,838 shares of company stock worth $1,955,532 over the last ninety days. 9.36% of the stock is owned by insiders.

About RadNet

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.

Institutional Ownership by Quarter for RadNet (NASDAQ:RDNT)

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