Many institutional investors have recently traded shares of RadNet. Vanguard Group increased its stake by 8.1%, owning 4,600,539 shares worth $223.86 million after purchasing 345,822 shares. Principal Financial raised its holdings by 11.8%, now owning 1,442,887 shares valued at $70.21 million after buying 152,305 shares. Hood River Capital’s position increased by 5.1%, with 1,125,712 shares valued at $66.33 million after acquiring 54,583 shares. Global Alpha Capital raised its holdings by 16.2%, now owning 1,019,934 shares worth $49.63 million after buying 141,830 shares. Allspring Global Investments raised its stake by 103.8%, now owning 1,011,974 shares valued at $59.63 million after buying 515,342 shares. Overall, 77.90% of RadNet’s stock is owned by institutional investors.
Analyst Ratings
Recently, analysts have commented positively on RadNet’s stock. Truist Financial raised its price target from $70.00 to $80.00, rating it a “buy.” Barclays upgraded RadNet from “equal weight” to “overweight,” increasing its price target from $57.00 to $79.00. Jefferies also raised their target from $75.00 to $80.00 with a “buy” rating. MarketBeat reports an average rating of “Moderate Buy” with a target price of $74.75.
Stock Performance
As of Tuesday, RadNet stock opened at $66.96. Its 50-day moving average is $64.46, while the 200-day average is $58.64. The stock’s 52-week range is $25.11 to $71.92. RadNet’s market cap is $4.95 billion, with a PE ratio of 223.20.
Earnings Announcement
RadNet reported quarterly earnings on August 7th, with an EPS of $0.16, slightly below the $0.17 expected. Revenue was $459.70 million, exceeding expectations of $438.53 million, representing a 13.9% year-over-year increase.
Insider Trading
On August 21st, EVP Michael N. Murdock sold 15,000 shares at an average price of $62.78 for a total of $941,700. He now owns 48,144 shares valued at $3,022,480.32. Company insiders own 5.12% of the stock.
About RadNet
RadNet, Inc. provides outpatient diagnostic imaging services in the U.S., offering various imaging procedures through its imaging centers and AI technology.
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