Highland Capital Management LLC Boosts Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Highland Capital Management LLC raised its position in RadNet, Inc. (NASDAQ:RDNT) by 6.5% in the 4th quarter, Holdings Channel reports. The fund owned 3,307 shares of the medical research company’s stock after acquiring an additional 202 shares during the period. Highland Capital Management LLC’s holdings in RadNet were worth $231,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after purchasing an additional 160 shares in the last quarter. Chartwell Investment Partners LLC grew its stake in shares of RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after purchasing an additional 193 shares during the period. Virtue Capital Management LLC increased its holdings in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after purchasing an additional 264 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Down 3.7 %

Shares of RDNT opened at $65.47 on Friday. RadNet, Inc. has a 1-year low of $35.16 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a 50 day simple moving average of $72.25 and a 200-day simple moving average of $68.84. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -935.15 and a beta of 1.79.

Insiders Place Their Bets

In related news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred 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 directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RDNT has been the topic of several recent analyst reports. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial restated a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays reduced their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. One research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.