Loomis Sayles & Co. L P Cuts Position in RadNet, Inc. (NASDAQ:RDNT)

Loomis Sayles & Co. L P decreased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 859,136 shares of the medical research company’s stock after selling 19,664 shares during the quarter. Loomis Sayles & Co. L P’s holdings in RadNet were worth $59,615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RDNT. Covestor Ltd raised its stake in shares of RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after buying an additional 435 shares during the period. Nisa Investment Advisors LLC increased its holdings in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC raised its position in RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new position in RadNet during the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of RadNet in the third quarter valued at about $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 0.9 %

RDNT opened at $82.04 on Monday. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of -1,171.83 and a beta of 1.75. The company’s 50 day simple moving average is $71.01 and its two-hundred day simple moving average is $64.21. RadNet, Inc. has a 1-year low of $32.01 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.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is currently owned by company insiders.

About RadNet

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.