Several institutional investors have recently traded shares of RadNet. Vanguard Group increased its stake by 8.1%, now owning 4.6 million shares worth $223.8 million after buying 345,822 additional shares. Principal Financial Group grew its holdings by 11.8%, owning about 1.4 million shares valued at $70.2 million. Hood River Capital raised its position by 5.1%, now holding over 1.1 million shares worth $66.3 million. Global Alpha Capital increased its stake by 16.2%, owning approximately 1 million shares valued at $49.6 million. Allspring Global Investments more than doubled its stake by 103.8%, now owning 1.01 million shares worth $59.6 million. Overall, 77.90% of RadNet’s stock is owned by institutional investors.
Analyst Ratings
Analysts have recently upgraded RadNet’s stock. Truist Financial raised its target price from $70 to $80 with a “buy” rating. Barclays upgraded from “equal weight” to “overweight,” increasing the target to $79. Jefferies also raised their target from $75 to $80 with a “buy” rating. Currently, one analyst rates it as a sell, while four recommend buying, giving RadNet a “Moderate Buy” consensus with an average price target of $74.75.
Stock Performance
RadNet’s stock opened at $66.96. Its 50-day moving average is $64.46, and its 200-day average is $58.64. The stock has a market cap of $4.95 billion, a PE ratio of 223.20, and a beta of 1.74. The 52-week range is $25.11 to $71.92. Recently, RadNet reported a quarterly EPS of $0.16, missing an expectation of $0.17, but revenue was up 13.9% YoY at $459.7 million.
Insider Trading
On August 21, EVP Michael N. Murdock sold 15,000 shares at an average price of $62.78 for a total of $941,700. He now holds 48,144 shares valued at about $3.02 million. Insiders own 5.12% of the company.
About RadNet
RadNet, Inc. provides outpatient diagnostic imaging services in the U.S., offering services like MRI, CT scans, mammography, and AI imaging solutions.
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Want updates on RDNT holdings? Check out HoldingsChannel.com for the latest hedge fund activities concerning RadNet (NASDAQ:RDNT).
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