Miracle Mile Advisors buys $348,330 stake in RadNet (RDNT)

RadNet (RDNT) : Miracle Mile Advisors scooped up 37,249 additional shares in RadNet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 63,680 shares of RadNet which is valued at $348,330.RadNet makes up approximately 0.12% of Miracle Mile Advisors’s portfolio.

Other Hedge Funds, Including , Malaga Cove Capital added RDNT to its portfolio by purchasing 11,525 company shares during the most recent quarter which is valued at $58,201. RadNet makes up approx 0.05% of Malaga Cove Capital’s portfolio. Strs Ohio sold out all of its stake in RDNT during the most recent quarter. The investment firm sold 102,900 shares of RDNT which is valued $563,892. Magee Thomson Investment Partners sold out all of its stake in RDNT during the most recent quarter. The investment firm sold 826 shares of RDNT which is valued $4,526.

RadNet closed down -0.12 points or -2.19% at $5.37 with 1,69,741 shares getting traded on Tuesday. Post opening the session at $5.05, the shares hit an intraday low of $5.05 and an intraday high of $5.48 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, RadNet reported $-0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.01. The company had revenue of $216.40 million for the quarter, compared to analysts expectations of $205.01 million. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 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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