Brookwood Investment Group LLC Makes New $1.38 Million Investment in RadNet, Inc. (NASDAQ:RDNT)

Brookwood Investment Group LLC purchased a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 27,701 shares of the medical research company's stock, valued at approximately $1,377,000.

Several other hedge funds also recently modified their holdings of RDNT. Norges Bank bought a new stake in RadNet in the 4th quarter valued at $56,381,000. Raymond James Financial Inc. acquired a new stake in RadNet in the fourth quarter valued at $33,090,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of RadNet by 79.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock valued at $63,813,000 after purchasing an additional 404,241 shares during the last quarter. Tidal Investments LLC lifted its position in shares of RadNet by 7,219.2% during the 4th quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock valued at $27,189,000 after acquiring an additional 383,989 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in shares of RadNet by 108.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock valued at $35,102,000 after buying an additional 261,711 shares during the last quarter. Institutional investors own 77.90% of the company's stock.

RadNet Trading Up 2.5%

Shares of RDNT stock traded up $1.42 on Friday, reaching $57.41. 487,475 shares of the company's stock were exchanged, compared to its average volume of 651,350. The stock has a market capitalization of $4.31 billion, a PE ratio of -133.51 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The company's fifty day simple moving average is $57.04 and its 200 day simple moving average is $56.46.

Insider Buying and Selling

In other news, COO Norman R. Hames sold 2,911 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $174,660.00. Following the transaction, the chief operating officer owned 24,889 shares of the company's stock, valued at approximately $1,493,340. This represents a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock valued at $3,613,220 in the last quarter. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on RDNT shares. Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Truist Financial set a $74.00 price target on shares of RadNet in a research note on Thursday, July 10th. Finally, B. Riley initiated coverage on RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, RadNet presently has a consensus rating of "Buy" and a consensus price target of $69.60.

RadNet 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.