State Street Corp Grows Position in RadNet, Inc. (NASDAQ:RDNT)

State Street Corp grew its stake in RadNet, Inc. (NASDAQ:RDNT) by 1.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,446,179 shares of the medical research company’s stock after buying an additional 30,244 shares during the quarter. State Street Corp’s holdings in RadNet were worth $169,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. 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 raised its stake in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of RadNet during the 3rd quarter worth approximately $68,000. Peterson Financial Group Inc. acquired a new position in shares of RadNet during the 3rd quarter worth approximately $90,000. Finally, GAMMA Investing LLC raised its stake in shares of RadNet by 57.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after buying an additional 496 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays increased their price objective on RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial increased their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, Jefferies Financial Group increased their price objective on RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One equities 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 data from MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and an average target price of $84.75.

RadNet Stock Down 0.2 %

Shares of RDNT opened at $78.34 on Friday. RadNet, Inc. has a 52-week low of $33.44 and a 52-week high of $93.65. The company has a market capitalization of $5.80 billion, a PE ratio of -1,118.98 and a beta of 1.77. The stock has a fifty day simple moving average of $74.56 and a two-hundred day simple moving average of $66.56. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insiders Place Their Bets

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 value 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. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

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.