RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Global Alpha Capital Management Ltd.

Key Points

• Global Alpha Capital Management Ltd. increased its stake in RadNet, Inc. by 14%, acquiring an additional 68,087 shares to reach a total of 555,091 shares, valued at approximately $27.6 million.
• Analyst ratings for RadNet show a mix of opinions, with one sell rating, three buy ratings, and a consensus price target of $69.60 per share.
• RadNet's stock recently opened at $53.36, with a annual range between a 52-week low of $45.00 and a high of $93.65.

Global Alpha Capital Management Ltd. boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 555,091 shares of the medical research company's stock after purchasing an additional 68,087 shares during the period. RadNet makes up approximately 2.0% of Global Alpha Capital Management Ltd.'s holdings, making the stock its 25th biggest position. Global Alpha Capital Management Ltd. owned about 0.74% of RadNet worth $27,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Zions Bancorporation National Association UT acquired a new stake in RadNet during the first quarter valued at approximately $1,734,000. Citigroup Inc. lifted its stake in RadNet by 74.7% during the first quarter. Citigroup Inc. now owns 312,616 shares of the medical research company's stock valued at $15,543,000 after purchasing an additional 133,682 shares during the last quarter. Headlands Technologies LLC acquired a new stake in RadNet during the first quarter valued at approximately $28,000. Scotia Capital Inc. lifted its stake in RadNet by 25.5% during the first quarter. Scotia Capital Inc. now owns 35,632 shares of the medical research company's stock valued at $1,772,000 after purchasing an additional 7,234 shares during the last quarter. Finally, US Bancorp DE lifted its stake in RadNet by 4,620.8% during the first quarter. US Bancorp DE now owns 3,635 shares of the medical research company's stock valued at $181,000 after purchasing an additional 3,558 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial set a $74.00 target price on shares of RadNet in a research note on Thursday, July 10th. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Finally, B. Riley assumed coverage on shares of RadNet in a report on Friday, June 13th. They set a "buy" rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, RadNet currently has an average rating of "Buy" and a consensus price target of $69.60.

RadNet Stock Up 1.6%

RDNT stock opened at $53.36 on Friday. RadNet, Inc. has a 52-week low of $45.00 and a 52-week high of $93.65. The company's 50 day simple moving average is $56.58 and its 200-day simple moving average is $55.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market capitalization of $4.00 billion, a P/E ratio of -124.09 and a beta of 1.43.

Insider Activity at RadNet

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $332,160.00. Following the transaction, the chief operating officer owned 249,183 shares in the company, valued at approximately $14,950,980. This represents a 2.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the company's 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 completion of the transaction, the executive vice president owned 1,160,509 shares in the company, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,447 shares of company stock worth $3,613,220. Company insiders own 5.60% of the company's stock.

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.

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