Royce & Associates LP Sells 63,560 Shares of RadNet, Inc. (NASDAQ:RDNT)

Royce & Associates LP lessened its holdings in RadNet, Inc. (NASDAQ:RDNT) by 37.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,039 shares of the medical research company’s stock after selling 63,560 shares during the quarter. Royce & Associates LP’s holdings in RadNet were worth $7,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its stake in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC grew its stake in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC grew its stake in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of RadNet during the 3rd quarter valued at $68,000. Finally, SG Americas Securities LLC lifted its position in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock valued at $177,000 after buying an additional 291 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of RDNT opened at $79.58 on Monday. The stock’s 50-day simple moving average is $69.29 and its 200 day simple moving average is $63.09. RadNet, Inc. has a 52-week low of $31.36 and a 52-week high of $93.65. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -1,136.69 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16.

Analyst Ratings Changes

A number of brokerages have recently commented on RDNT. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Truist Financial upped their price target on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Insider Buying and Selling at RadNet

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.