RadNet, Inc. $RDNT Stock Position Lifted by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 13.1% during the second quarter, Holdings Channel.com reports. The firm owned 627,558 shares of the medical research company’s stock after buying an additional 72,467 shares during the quarter. RadNet accounts for approximately 2.2% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 22nd biggest position. Global Alpha Capital Management Ltd.’s holdings in RadNet were worth $35,714,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new position in RadNet in the 1st quarter valued at about $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet in the 2nd quarter worth approximately $35,000. Family Legacy Financial Solutions LLC bought a new position in shares of RadNet in the second quarter valued at approximately $85,000. Jones Financial Companies Lllp boosted its holdings in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of RadNet by 41.5% during the second quarter. GAMMA Investing LLC now owns 2,327 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 683 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $78.31 on Friday. The stock’s fifty day simple moving average is $76.08 and its 200 day simple moving average is $64.34. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of -391.53 and a beta of 1.58. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65.

RadNet (NASDAQ:RDNT) last announced its earnings results on Sunday, August 10th. The medical research company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business had revenue of $498.23 million during the quarter, compared to the consensus estimate of $488.06 million. During the same period in the prior year, the business posted $0.16 earnings per share. RadNet’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 500 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $72.13, for a total value of $36,065.00. Following the completion of the transaction, the chief executive officer directly owned 53,495 shares in the company, valued at $3,858,594.35. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Stolper sold 35,000 shares of RadNet stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the completion of the transaction, the executive vice president directly owned 68,012 shares in the company, valued at approximately $5,025,406.68. This trade represents a 33.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 135,098 shares of company stock valued at $9,430,715. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RDNT shares. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Truist Financial boosted their price objective on RadNet from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “sell (d)” rating on shares of RadNet in a report on Wednesday, October 8th. Wall Street Zen raised RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price target (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.80.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.