Several institutional investors have recently bought or sold shares of RadNet. Vanguard increased its stake by 8.1%, owning about 4.6 million shares valued at $223.9 million after purchasing 345,822 more shares. Principal Financial Group raised its holdings by 11.8%, owning 1.4 million shares worth $70.2 million after buying 152,305 shares. Hood River Capital Management increased its position by 5.1%, owning over 1.1 million shares valued at $66.3 million. Global Alpha Capital raised its stake by 16.2%, owning just over 1 million shares worth about $49.6 million. Allspring Global Investments increased its stake by 103.8%, owning over 1 million shares worth $59.6 million. Institutional investors and hedge funds own 77.90% of the stock.
Analyst Ratings
Analysts have recently upgraded RadNet (RDNT) stock. Truist Financial raised its price target from $70 to $80, rating it a buy. Barclays upgraded it to overweight, increasing its price target from $57 to $79. Jefferies also raised its target from $75 to $80, maintaining a buy rating. One analyst gave it a sell rating, while four rated it as a buy, leading to a consensus of Moderate Buy and an average price target of $74.75.
View Our Latest Stock Analysis on RadNet
RadNet Price Overview
RadNet stock opened at $66.96 and has a 50-day average of $64.46 and a 200-day average of $58.64. The company has a market cap of $4.95 billion and a PE ratio of 223.20, with a high of $71.92 and a low of $25.11 over the past year.
In its latest earnings on August 7, RadNet reported earnings of $0.16 per share, just below expectations of $0.17. The company reported $459.7 million in revenue, exceeding the expected $438.5 million, reflecting a year-over-year revenue increase of 13.9%. Analysts expect an EPS of $0.60 for the current fiscal year.
Insider Transactions
Executive VP Michael N. Murdock sold 15,000 shares on August 21 at an average price of $62.78, totaling about $941,700. Following this sale, he owns 48,144 shares, valued at approximately $3 million. Insiders hold 5.12% of the companys stock.
Company Overview
RadNet, Inc. provides outpatient diagnostic imaging services in the U.S., operating in two segments: Imaging Centers and Artificial Intelligence. It offers services like MRI, CT scans, PET, nuclear medicine, mammography, and more.
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