Hood River Capital Management LLC Acquires 39,881 Shares of RadNet, Inc. (NASDAQ:RDNT)

Hood River Capital Management LLC grew its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,322,879 shares of the medical research company's stock after buying an additional 39,881 shares during the period. RadNet makes up 1.4% of Hood River Capital Management LLC's investment portfolio, making the stock its 20th largest holding. Hood River Capital Management LLC owned about 1.79% of RadNet worth $92,390,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. USA Financial Formulas bought a new position in RadNet during the fourth quarter worth $30,000. Fifth Third Bancorp boosted its position in shares of RadNet by 84.3% during the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after buying an additional 422 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in RadNet in the 4th quarter valued at about $105,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on RDNT. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial reduced their price objective 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. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $69.75.

RadNet Stock Down 0.4 %

Shares of RDNT traded down $0.19 during trading hours on Monday, reaching $50.08. 194,051 shares of the stock traded hands, compared to its average volume of 663,111. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -713.80 and a beta of 1.59. The stock has a fifty day simple moving average of $51.71 and a 200 day simple moving average of $64.42. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. On average, equities analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the transaction, the chief operating officer now directly owns 251,959 shares of the company's stock, valued at $12,653,380.98. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 in the last quarter. 5.12% of the stock is currently owned by company insiders.

About RadNet

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.