Northern Trust Corp grew its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 14.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,020 shares of the medical research company’s stock after purchasing an additional 57,890 shares during the quarter. Northern Trust Corp owned about 0.98% of RadNet worth $7,065,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. United Services Automobile Association acquired a new position in shares of RadNet during the 2nd quarter worth approximately $156,000. First Trust Advisors LP increased its holdings in shares of RadNet by 19.5% during the 2nd quarter. First Trust Advisors LP now owns 33,894 shares of the medical research company’s stock worth $508,000 after acquiring an additional 5,533 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of RadNet by 16.0% during the 2nd quarter. Rhumbline Advisers now owns 39,205 shares of the medical research company’s stock worth $588,000 after acquiring an additional 5,398 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of RadNet by 15.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 41,050 shares of the medical research company’s stock worth $616,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of RadNet by 10.1% during the 2nd quarter. Bessemer Group Inc. now owns 43,500 shares of the medical research company’s stock worth $653,000 after acquiring an additional 4,000 shares during the last quarter. 61.47% of the stock is currently owned by hedge funds and other institutional investors.

RDNT has been the topic of a number of recent analyst reports. BidaskClub raised RadNet from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Zacks Investment Research upgraded RadNet from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $15.50.

RDNT traded up $0.10 during trading on Friday, hitting $12.60. The stock had a trading volume of 184,646 shares, compared to its average volume of 232,866. The company has a market capitalization of $610.83 million, a PE ratio of 43.45, a price-to-earnings-growth ratio of 4.66 and a beta of 0.42. RadNet Inc. has a one year low of $9.50 and a one year high of $16.54. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.12 and a quick ratio of 1.12.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The firm had revenue of $242.10 million during the quarter, compared to the consensus estimate of $240.07 million. RadNet had a negative net margin of 0.44% and a positive return on equity of 14.62%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. Equities analysts anticipate that RadNet Inc. will post 0.34 earnings per share for the current fiscal year.

In other news, insider Norman R. Hames sold 14,000 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $15.59, for a total transaction of $218,260.00. Following the completion of the sale, the insider now directly owns 589,000 shares in the company, valued at approximately $9,182,510. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey L. Linden sold 10,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $14.78, for a total value of $147,800.00. Following the sale, the insider now owns 902,001 shares of the company’s stock, valued at $13,331,574.78. The disclosure for this sale can be found here. Insiders own 7.56% of the company’s stock.

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RadNet 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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