Russell Investments Group Ltd. Invests $8.70 Million in RadNet Inc. (NASDAQ:RDNT)

Russell Investments Group Ltd. acquired a new stake in RadNet Inc. (NASDAQ:RDNT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 631,111 shares of the medical research company’s stock, valued at approximately $8,699,000. Russell Investments Group Ltd. owned 1.26% of RadNet at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Paradigm Capital Management Inc. NY acquired a new stake in RadNet during the second quarter worth approximately $247,000. Monarch Partners Asset Management LLC acquired a new position in RadNet in the second quarter valued at approximately $694,000. Cheyne Capital Management UK LLP boosted its holdings in shares of RadNet by 21.3% during the 2nd quarter. Cheyne Capital Management UK LLP now owns 452,500 shares of the medical research company’s stock worth $6,240,000 after buying an additional 79,604 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in shares of RadNet by 31.9% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,183,429 shares of the medical research company’s stock worth $16,319,000 after buying an additional 286,281 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of RadNet by 4.6% during the 2nd quarter. Swiss National Bank now owns 79,200 shares of the medical research company’s stock worth $1,092,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 61.62% of the company’s stock.

Several research firms have recently weighed in on RDNT. BidaskClub lowered shares of RadNet from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet lowered shares of RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. RadNet presently has an average rating of “Hold” and an average target price of $17.75.



RDNT stock traded up $0.15 during midday trading on Wednesday, reaching $14.31. 1,880 shares of the company’s stock traded hands, compared to its average volume of 235,276. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 5.09. The firm’s fifty day moving average price is $14.56 and its 200-day moving average price is $13.59. RadNet Inc. has a 52 week low of $9.97 and a 52 week high of $16.54. The company has a market cap of $698.27 million, a price-to-earnings ratio of 21.62, a P/E/G ratio of 5.63 and a beta of 0.93.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $289.10 million during the quarter, compared to the consensus estimate of $272.36 million. RadNet had a net margin of 3.33% and a return on equity of 18.91%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Analysts forecast that RadNet Inc. will post 0.33 earnings per share for the current year.

In related news, Director Michael L. Md Sherman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.19, for a total value of $455,700.00. Following the transaction, the director now directly owns 259,083 shares of the company’s stock, valued at approximately $3,935,470.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John V. Crues sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $15.07, for a total transaction of $753,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,370 shares of company stock valued at $2,071,305. 6.10% of the stock is currently owned by corporate insiders.

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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