SG Americas Securities LLC Raises Position in RadNet, Inc. (NASDAQ:RDNT)

SG Americas Securities LLC lifted its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 239.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,337 shares of the medical research company's stock after acquiring an additional 9,409 shares during the quarter. SG Americas Securities LLC's holdings in RadNet were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock valued at $82,000 after acquiring an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of RadNet by 3.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 427,992 shares of the medical research company's stock valued at $21,280,000 after buying an additional 12,992 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in shares of RadNet by 17.1% during the first quarter. E. Ohman J or Asset Management AB now owns 36,258 shares of the medical research company's stock worth $1,803,000 after purchasing an additional 5,300 shares during the last quarter. Rhumbline Advisers grew its stake in RadNet by 1.1% during the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock worth $8,740,000 after buying an additional 1,895 shares during the last quarter. Finally, Virtue Capital Management LLC grew its position in shares of RadNet by 6.4% during the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company's stock worth $1,441,000 after acquiring an additional 1,239 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research note on Saturday. Raymond James Financial raised RadNet from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Barclays cut their price target on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. B. Riley began coverage on shares of RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $69.60.

RadNet Stock Performance

RadNet stock opened at $55.23 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a fifty day moving average of $55.43 and a two-hundred day moving average of $59.55. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of -128.44 and a beta of 1.43. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65.

Insiders Place Their Bets

In related news, COO Norman R. Hames sold 2,911 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 transaction of $174,660.00. Following the transaction, the chief operating officer now owns 24,889 shares of the company's stock, valued at approximately $1,493,340. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president now directly owns 1,160,509 shares of the company's stock, valued at $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 have sold 63,447 shares of company stock valued at $3,613,220 in the last ninety days. Insiders own 5.60% of the company's stock.

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.

Want to see what other hedge funds are holding RDNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RadNet, Inc. (NASDAQ:RDNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.