Eqis Capital Management Lowers stake in RadNet (RDNT)

RadNet (RDNT) : Eqis Capital Management reduced its stake in RadNet by 0.77% during the most recent quarter end. The investment management company now holds a total of 1,257,190 shares of RadNet which is valued at $9,378,637 after selling 9,816 shares in RadNet , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.RadNet makes up approximately 0.59% of Eqis Capital Management’s portfolio.

RadNet closed down -0.18 points or -2.38% at $7.37 with 90,610 shares getting traded on Tuesday. Post opening the session at $7.58, the shares hit an intraday low of $7.34 and an intraday high of $7.67 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, RadNet reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.05. The company had revenue of $218.60 million for the quarter, compared to analysts expectations of $220.97 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

RadNet Inc. is engaged in providing freestanding fixed-site outpatient diagnostic imaging services in the United States. The Company has a network of around 293 owned and/or operated outpatient imaging centers including around 74 facilities in the greater New York Metropolitan area. Its core markets include California Maryland Delaware New Jersey New York and Rhode Island. The Company’s centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company’s services include magnetic resonance imaging (MRI) computed tomography (CT) positron emission tomography (PET) nuclear medicine mammography ultrasound diagnostic radiology (X-ray) fluoroscopy and other related procedures. The Company has around 213 MRI systems 125 CT systems 44 PET or combination PET/CT systems 274 X-ray systems 392 ultrasound systems 44 nuclear medicine systems 226 mammography systems and 168 fluoroscopy systems in operation.

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