Institutional investors and hedge funds have been trading shares of RadNet. Vanguard Group Inc. increased its stake by 8.1%, now holding 4,600,539 shares worth $223.9 million. Principal Financial Group raised its holdings by 11.8%, owning 1,442,887 shares valued at $70.2 million. Hood River Capital Management grew its position by 5.1% to 1,125,712 shares worth $66.3 million. Global Alpha Capital increased its shares by 16.2%, now possessing 1,019,934 shares worth $49.6 million. Allspring Global Investments bought 515,342 additional shares, boosting its stake by 103.8% to 1,011,974 shares valued at $59.6 million. In total, 77.9% of the stock is held by institutional investors.
Analyst Upgrades
Analysts have recently rated RadNet shares. Truist Financial raised their price target from $70 to $80 with a “buy” rating. Barclays upgraded the stock to “overweight,” raising the target from $57 to $79. Jefferies raised their target from $75 to $80 and maintained a “buy” rating. Overall, RadNet has a consensus rating of “Moderate Buy” with an average target of $74.75.
Price Performance
RadNet stock opened at $66.96. Its 50-day moving average is $64.46, and the 200-day average is $58.64. The stock has a 52-week low of $25.11 and a high of $71.92, with a market cap of $4.95 billion and a PE ratio of 223.20.
Earnings Report
RadNet reported earnings on August 7, with an EPS of $0.16, missing expectations of $0.17. The revenue was $459.7 million, exceeding the estimate of $438.5 million, growing 13.9% year-over-year. Analysts expect RadNet to post an EPS of 0.6 this fiscal year.
Insider Transactions
In insider news, EVP Michael N. Murdock sold 15,000 shares for approximately $941,700 on August 21, reducing his stake to 48,144 shares valued at $3 million. Insiders own 5.12% of the stock.
Company Profile
RadNet, Inc. offers outpatient diagnostic imaging services across the U.S., operating in Imaging Centers and Artificial Intelligence segments. Their services include MRI, CT scans, PET, and more.
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For more hedge fund info, visit HoldingsChannel.com for RadNet’s 13F filings.
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