Weber Alan W buys $17.5 Million stake in RadNet (RDNT)

RadNet (RDNT) : Weber Alan W scooped up 38,777 additional shares in RadNet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 3,400,477 shares of RadNet which is valued at $17.5 Million.RadNet makes up approximately 13.26% of Weber Alan W’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in RDNT by selling 49,200 shares or 18.09% in the most recent quarter. The Hedge Fund company now holds 222,814 shares of RDNT which is valued at $1.1 Million. RadNet makes up approx 0.01% of Cornerstone Capital Management Holdings.’s portfolio.Oxford Asset Management reduced its stake in RDNT by selling 53,807 shares or 27.81% in the most recent quarter. The Hedge Fund company now holds 139,665 shares of RDNT which is valued at $719,275. RadNet makes up approx 0.03% of Oxford Asset Management’s portfolio. Campbell Co Investment Adviser sold out all of its stake in RDNT during the most recent quarter. The investment firm sold 12,950 shares of RDNT which is valued $70,837.American Century Companies Inc boosted its stake in RDNT in the latest quarter, The investment management firm added 1,571 additional shares and now holds a total of 164,463 shares of RadNet which is valued at $899,613.

RadNet closed down -0.06 points or -1.17% at $5.09 with 1,18,728 shares getting traded on Monday. Post opening the session at $5.19, the shares hit an intraday low of $5.068 and an intraday high of $5.21 and the price fluctuated in this range throughout the day.Shares ended Monday 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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