Cheyne Capital Management (uk) Llp buys $1,385,393 stake in RadNet (RDNT)

RadNet (RDNT) : Cheyne Capital Management (uk) Llp scooped up 20,000 additional shares in RadNet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 252,809 shares of RadNet which is valued at $1,385,393.RadNet makes up approximately 0.64% of Cheyne Capital Management (uk) Llp’s portfolio.

RadNet opened for trading at $5.39 and hit $5.51 on the upside on Friday, eventually ending the session at $5.48, with a gain of 1.48% or 0.08 points. The heightened volatility saw the trading volume jump to 1,18,136 shares. Company has a market cap of $259 M.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in RDNT during the most recent quarter. The investment firm sold 6,726 shares of RDNT which is valued $33,630.Eqis Capital Management boosted its stake in RDNT in the latest quarter, The investment management firm added 128,857 additional shares and now holds a total of 1,234,756 shares of RadNet which is valued at $5,926,829. RadNet makes up approx 0.42% of Eqis Capital Management’s portfolio.

On the company’s financial health, RadNet reported $0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Mar 14, 2016. Analyst had a consensus of $0.17. The company had revenue of $215.70 million for the quarter, compared to analysts expectations of $206.23 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on RadNet. Sidoti Initiated RadNet on Apr 15, 2016 to “Buy”, Price Target of the shares are set at $9.

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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