Eqis Capital Management buys $7,272,614 stake in RadNet (RDNT)

RadNet (RDNT) : Eqis Capital Management scooped up 32,250 additional shares in RadNet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 14, 2016. The investment management firm now holds a total of 1,267,006 shares of RadNet which is valued at $7,272,614.RadNet makes up approximately 0.48% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp added RDNT to its portfolio by purchasing 6,266 company shares during the most recent quarter which is valued at $35,403. Bnp Paribas Arbitrage Sa added RDNT to its portfolio by purchasing 1,454 company shares during the most recent quarter which is valued at $8,128.

RadNet closed down -0.13 points or -2.21% at $5.74 with 1,16,917 shares getting traded on Monday. Post opening the session at $5.86, the shares hit an intraday low of $5.73 and an intraday high of $5.86 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. RadNet was Initiated by Sterne Agee CRT to “Neutral” on Jun 2, 2016.

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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