Global Alpha Capital Management Ltd. Decreases Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Global Alpha Capital Management Ltd. trimmed its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 960,034 shares of the medical research company's stock after selling 34,100 shares during the period. RadNet comprises approximately 4.3% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 3rd biggest position. Global Alpha Capital Management Ltd. owned approximately 1.30% of RadNet worth $66,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Clearbridge Investments LLC acquired a new stake in shares of RadNet in the 1st quarter valued at about $26,617,000. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company's stock valued at $59,626,000 after purchasing an additional 515,342 shares during the last quarter. 8 Knots Management LLC acquired a new position in RadNet during the 1st quarter valued at about $20,273,000. Vanguard Group Inc. boosted its stake in RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company's stock valued at $223,862,000 after purchasing an additional 345,822 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of RadNet by 130.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock worth $27,909,000 after buying an additional 227,713 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Up 2.9 %

RDNT stock traded up $2.31 during trading on Wednesday, reaching $82.16. The company had a trading volume of 558,645 shares, compared to its average volume of 554,469. RadNet, Inc. has a 52 week low of $31.55 and a 52 week high of $93.65. The company has a market cap of $6.08 billion, a P/E ratio of -1,150.41 and a beta of 1.75. The business has a 50 day moving average of $70.04 and a 200 day moving average of $63.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Analyst Ratings Changes

Several research firms have commented on RDNT. Jefferies Financial Group lifted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Barclays upgraded shares of RadNet from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Truist Financial boosted their price target on shares of RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $74.75.

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.