Hood River Capital Management LLC Raises Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Hood River Capital Management LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125,712 shares of the medical research company’s stock after acquiring an additional 54,583 shares during the period. RadNet comprises about 1.4% of Hood River Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Hood River Capital Management LLC’s holdings in RadNet were worth $66,327,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RDNT. SG Americas Securities LLC lifted its holdings in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares in the last quarter. Hanseatic Management Services Inc. lifted its holdings in shares of RadNet by 1.8% in the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after buying an additional 353 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in RadNet by 6.2% during the first quarter. Mutual of America Capital Management LLC now owns 11,232 shares of the medical research company’s stock valued at $547,000 after acquiring an additional 656 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in RadNet by 12.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,688 shares of the medical research company’s stock valued at $394,000 after acquiring an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on RDNT shares. Jefferies Financial Group increased their price objective on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial increased their price target on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.25.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.12% of the stock is owned by insiders.

RadNet Stock Down 0.4 %

Shares of NASDAQ:RDNT opened at $69.34 on Monday. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 231.13 and a beta of 1.74. RadNet, Inc. has a 12 month low of $25.11 and a 12 month high of $70.37. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $63.03 and a 200 day moving average price of $56.85.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. RadNet’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, equities research analysts predict that RadNet, Inc. will post 0.58 earnings per share for the current year.

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.