Miracle Mile Advisors buys $538,850 stake in RadNet (RDNT)

RadNet (RDNT) : Miracle Mile Advisors scooped up 26,883 additional shares in RadNet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 90,563 shares of RadNet which is valued at $538,850.RadNet makes up approximately 0.17% of Miracle Mile Advisors’s portfolio.

Other Hedge Funds, Including , Arcadia Investment Management Corpmi added RDNT to its portfolio by purchasing 4,500 company shares during the most recent quarter which is valued at $25,830. RadNet makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.Eqis Capital Management boosted its stake in RDNT in the latest quarter, The investment management firm added 32,250 additional shares and now holds a total of 1,267,006 shares of RadNet which is valued at $7,272,614. RadNet makes up approx 0.48% of Eqis Capital Management’s portfolio. 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.

RadNet opened for trading at $5.98 and hit $6.05 on the upside on Friday, eventually ending the session at $6.01, with a gain of 0.67% or 0.04 points. The heightened volatility saw the trading volume jump to 93,543 shares. Company has a market cap of $284 M.

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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