Global Alpha Capital Management Ltd. lifted its position in RadNet Inc. (NASDAQ:RDNT) by 63.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 897,148 shares of the medical research company’s stock after purchasing an additional 347,100 shares during the quarter. RadNet comprises 2.1% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 20th largest position. Global Alpha Capital Management Ltd.’s holdings in RadNet were worth $11,116,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in RadNet by 0.3% during the fourth quarter. Northern Trust Corp now owns 518,399 shares of the medical research company’s stock worth $5,272,000 after acquiring an additional 1,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in RadNet by 157.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock worth $37,000 after acquiring an additional 2,218 shares during the period. Adalta Capital Management LLC grew its holdings in RadNet by 8.0% during the fourth quarter. Adalta Capital Management LLC now owns 32,581 shares of the medical research company’s stock worth $331,000 after acquiring an additional 2,400 shares during the period. US Bancorp DE acquired a new stake in RadNet during the first quarter worth about $31,000. Finally, Quantamental Technologies LLC acquired a new stake in RadNet during the first quarter worth about $34,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.
RDNT traded down $0.24 during trading on Wednesday, hitting $13.38. The company’s stock had a trading volume of 8,977 shares, compared to its average volume of 265,789. The company has a current ratio of 0.72, a quick ratio of 0.87 and a debt-to-equity ratio of 4.74. RadNet Inc. has a twelve month low of $9.97 and a twelve month high of $16.54. The firm has a market cap of $670.08 million, a P/E ratio of 20.27, a PEG ratio of 5.00 and a beta of 1.16.
In other RadNet news, Director David L. Swartz sold 11,556 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $14.72, for a total value of $170,104.32. Following the sale, the director now directly owns 265,855 shares of the company’s stock, valued at $3,913,385.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John V. Crues sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.15, for a total value of $263,000.00. Following the completion of the sale, the insider now directly owns 524,097 shares in the company, valued at $6,891,875.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,556 shares of company stock worth $935,754. 7.56% of the stock is owned by corporate insiders.
Several research firms recently commented on RDNT. Zacks Investment Research lowered RadNet from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. BidaskClub raised RadNet from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. TheStreet raised RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. ValuEngine lowered RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Raymond James lowered RadNet from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $17.50 in a report on Friday, March 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.75.
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RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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