Bank of America Corp DE raised its holdings in RadNet Inc. (NASDAQ:RDNT) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,340 shares of the medical research company’s stock after purchasing an additional 10,811 shares during the quarter. Bank of America Corp DE owned 0.11% of RadNet worth $532,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RDNT. PNC Financial Services Group Inc. acquired a new stake in shares of RadNet in the 4th quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of RadNet by 157.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 2,218 shares during the period. Financial Gravity Companies Inc. purchased a new stake in RadNet during the 4th quarter valued at approximately $60,000. Bell & Brown Wealth Advisors LLC purchased a new stake in RadNet during the 4th quarter valued at approximately $102,000. Finally, Virtu Financial LLC purchased a new stake in RadNet during the 4th quarter valued at approximately $115,000. Institutional investors own 64.10% of the company’s stock.
In related news, VP Mark Stolper sold 15,000 shares of RadNet stock in a transaction on Monday, March 18th. The stock was sold at an average price of $14.99, for a total value of $224,850.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Swartz sold 11,556 shares of RadNet stock in a transaction on Monday, March 18th. The shares were sold at an average price of $14.72, for a total value of $170,104.32. Following the completion of the transaction, the director now owns 265,855 shares in the company, valued at approximately $3,913,385.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,556 shares of company stock worth $935,754. 7.56% of the stock is owned by insiders.
NASDAQ RDNT traded down $0.18 during mid-day trading on Tuesday, hitting $12.84. The stock had a trading volume of 7,651 shares, compared to its average volume of 286,970. RadNet Inc. has a 52-week low of $9.97 and a 52-week high of $16.54. The company has a market capitalization of $642.53 million, a P/E ratio of 19.45, a PEG ratio of 4.86 and a beta of 1.04. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.72 and a quick ratio of 0.72.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $271.50 million during the quarter, compared to the consensus estimate of $256.30 million. RadNet had a return on equity of 22.38% and a net margin of 3.53%. RadNet’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the business posted ($0.15) EPS. On average, research analysts expect that RadNet Inc. will post 0.35 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was first posted by Tech Know Bits and is the property of of Tech Know Bits. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://techknowbits.com/2019/06/11/bank-of-america-corp-de-boosts-stake-in-radnet-inc-rdnt.html.
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.
Recommended Story: How is diluted EPS different from basic EPS?
Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.