7,286 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by Guidance Capital Inc.

Guidance Capital Inc. purchased a new position in RadNet, Inc. (NASDAQ:RDNT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,286 shares of the medical research company’s stock, valued at approximately $467,000.

Several other institutional investors also recently bought and sold shares of the company. Lisanti Capital Growth LLC acquired a new stake in RadNet in the 3rd quarter valued at about $2,922,000. Franklin Resources Inc. raised its holdings in RadNet by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after acquiring an additional 41,381 shares during the last quarter. Pathstone Holdings LLC raised its holdings in RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after acquiring an additional 1,838 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in RadNet by 178.3% in the 3rd quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock valued at $1,463,000 after acquiring an additional 13,505 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RDNT. Truist Financial reiterated a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays decreased their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group decreased their target price on shares of 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,004,295.00. Following the completion of the transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % 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 corporate insiders.

RadNet Price Performance

RDNT stock opened at $67.35 on Thursday. The business has a 50 day moving average price of $71.36 and a 200 day moving average price of $68.98. 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 stock has a market cap of $4.99 billion, a price-to-earnings ratio of -962.01 and a beta of 1.79. RadNet, Inc. has a fifty-two week low of $35.16 and a fifty-two week high of $93.65.

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.