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

Hood River Capital Management LLC raised its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,322,879 shares of the medical research company's stock after purchasing an additional 39,881 shares during the period. RadNet accounts for 1.4% of Hood River Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Hood River Capital Management LLC owned about 1.79% of RadNet worth $92,390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in RadNet by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock valued at $518,577,000 after buying an additional 71,910 shares during the period. Invesco Ltd. raised its holdings in shares of RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after acquiring an additional 70,673 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after acquiring an additional 118,501 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after purchasing an additional 344,146 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of RadNet by 11.5% in the fourth quarter. Marshall Wace LLP now owns 1,222,690 shares of the medical research company's stock worth $85,393,000 after purchasing an additional 125,844 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Trading Down 0.4 %

NASDAQ RDNT traded down $0.19 during trading on Friday, hitting $50.26. 581,287 shares of the company's stock traded hands, compared to its average volume of 663,412. The firm has a market cap of $3.72 billion, a P/E ratio of -717.90 and a beta of 1.59. The stock has a fifty day moving average of $51.71 and a two-hundred day moving average of $64.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. As a group, sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. Truist Financial cut their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group dropped their price target on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Barclays decreased their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $69.75.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares of the company's stock, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the transaction, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,926,730 in the last quarter. Insiders own 5.12% 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.