Parametric Portfolio Associates LLC Sells 10,507 Shares of RadNet, Inc. (NASDAQ:RDNT)

Parametric Portfolio Associates LLC lowered its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,464 shares of the medical research company’s stock after selling 10,507 shares during the period. Parametric Portfolio Associates LLC owned 0.34% of RadNet worth $941,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of RadNet during the fourth quarter valued at $101,000. TFS Capital LLC increased its position in shares of RadNet by 238.0% in the first quarter. TFS Capital LLC now owns 121,948 shares of the medical research company’s stock valued at $719,000 after buying an additional 85,872 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position 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 during the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of RadNet by 45.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 193,100 shares of the medical research company’s stock valued at $1,139,000 after buying an additional 60,700 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its position 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 during the last quarter. 46.00% of the stock is owned by institutional investors and hedge funds.

RadNet, Inc. (RDNT) traded up 1.21% during midday trading on Friday, reaching $8.35. The company had a trading volume of 125,088 shares. The firm has a 50-day moving average of $7.82 and a 200 day moving average of $6.76. The company has a market capitalization of $394.67 million, a P/E ratio of 43.95 and a beta of 1.01. RadNet, Inc. has a 1-year low of $5.25 and a 1-year high of $8.70.

RadNet (NASDAQ:RDNT) last issued 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. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The company had revenue of $230 million for the quarter, compared to analyst estimates of $230.32 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that RadNet, Inc. will post $0.29 EPS for the current year.

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

In related news, insider Michael N. Murdock sold 38,492 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $7.46, for a total value of $287,150.32. Following the transaction, the insider now directly owns 191,182 shares of the company’s stock, valued at approximately $1,426,217.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael N. Murdock sold 10,400 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $7.61, for a total value of $79,144.00. Following the completion of the transaction, the insider now directly owns 220,428 shares in the company, valued at $1,677,457.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,870 shares of company stock worth $1,124,462. Corporate insiders own 9.36% of the company’s stock.

RadNet Company Profile

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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