Mangrove Partners IM LLC Buys Shares of 11,694 RadNet, Inc. $RDNT

Mangrove Partners IM LLC bought a new stake in RadNet, Inc. (NASDAQ:RDNT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,694 shares of the medical research company’s stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of RadNet by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock worth $570,346,000 after buying an additional 95,015 shares during the last quarter. Beck Mack & Oliver LLC raised its holdings in shares of RadNet by 0.4% in the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after buying an additional 13,633 shares during the last quarter. State Street Corp raised its holdings in shares of RadNet by 1.6% in the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock worth $184,017,000 after buying an additional 41,356 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of RadNet by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,671,543 shares of the medical research company’s stock worth $119,283,000 after buying an additional 6,655 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of RadNet by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 1,413,734 shares of the medical research company’s stock worth $107,741,000 after buying an additional 19,182 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 0.9%

Shares of RadNet stock opened at $56.51 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average price of $55.92 and a 200 day moving average price of $64.99. RadNet, Inc. has a 1 year low of $50.76 and a 1 year high of $85.84. The stock has a market cap of $4.44 billion, a PE ratio of -313.93 and a beta of 1.41.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The business had revenue of $575.63 million for the quarter, compared to analysts’ expectations of $557.93 million. During the same period last year, the business earned ($0.50) EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that RadNet, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Weiss Ratings cut shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $91.00 price target on shares of RadNet in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.