Shell Asset Management Co. reduced its stake in RadNet, Inc. (NASDAQ:RDNT – Get Rating) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,904 shares of the medical research company’s stock after selling 1,908 shares during the period. Shell Asset Management Co.’s holdings in RadNet were worth $289,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of RadNet by 90.9% during the fourth quarter. American Century Companies Inc. now owns 1,132,093 shares of the medical research company’s stock worth $34,087,000 after acquiring an additional 538,951 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in RadNet by 44.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,072,670 shares of the medical research company’s stock worth $32,298,000 after purchasing an additional 330,090 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in RadNet by 24.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 963,712 shares of the medical research company’s stock worth $29,017,000 after purchasing an additional 190,570 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of RadNet in the 4th quarter valued at approximately $4,516,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of RadNet by 99.8% during the 4th quarter. JPMorgan Chase & Co. now owns 271,547 shares of the medical research company’s stock valued at $8,177,000 after buying an additional 135,631 shares during the last quarter. Institutional investors and hedge funds own 64.14% of the company’s stock.
Insider Activity at RadNet
In other RadNet news, COO Norman R. Hames sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $20.53, for a total transaction of $205,300.00. Following the transaction, the chief operating officer now owns 280,179 shares of the company’s stock, valued at approximately $5,752,074.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 20,900 shares of company stock valued at $414,923 over the last three months. 5.80% of the stock is owned by insiders.
RadNet Stock Down 0.2 %
RadNet (NASDAQ:RDNT – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The medical research company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.13). RadNet had a return on equity of 6.82% and a net margin of 1.36%. The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $333.46 million. During the same period in the prior year, the business earned $0.04 earnings per share. RadNet’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that RadNet, Inc. will post 0.2 earnings per share for the current fiscal year.
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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