RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its stake in RadNet, Inc. (NASDAQ:RDNT) by 131.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387,536 shares of the medical research company’s stock after acquiring an additional 220,068 shares during the quarter. Cerity Partners LLC’s holdings in RadNet were worth $26,891,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of RadNet by 103.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares in the last quarter. 8 Knots Management LLC purchased a new stake in RadNet during the 1st quarter worth approximately $20,273,000. Vanguard Group Inc. raised its holdings in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after acquiring an additional 345,822 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after acquiring an additional 227,713 shares during the last quarter. Finally, Whittier Trust Co. purchased a new position in shares of RadNet in the second quarter valued at approximately $11,069,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Stock Up 0.9 %

NASDAQ RDNT opened at $82.04 on Monday. The business’s fifty day simple moving average is $71.01 and its 200-day simple moving average is $64.12. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.07 billion, a PE ratio of -1,171.83 and a beta of 1.75. RadNet, Inc. has a 52 week low of $32.01 and a 52 week high of $93.65.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is owned by company insiders.

RadNet Company 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.