RadNet, Inc. (NASDAQ:RDNT) Stock Holdings Raised by Portolan Capital Management LLC

Portolan Capital Management LLC grew its position in RadNet, Inc. (NASDAQ:RDNT) by 384.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 491,358 shares of the medical research company’s stock after acquiring an additional 390,011 shares during the quarter. RadNet comprises about 2.5% of Portolan Capital Management LLC’s portfolio, making the stock its 7th largest position. Portolan Capital Management LLC’s holdings in RadNet were worth $34,095,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd grew its holdings in 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 acquiring an additional 435 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 751 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 last quarter. Highline Wealth Partners LLC purchased a new position in shares of RadNet in the 3rd quarter valued at approximately $68,000. Finally, Peterson Financial Group Inc. purchased a new position in RadNet during the 3rd quarter worth approximately $90,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Down 2.7 %

NASDAQ RDNT opened at $80.64 on Wednesday. The firm’s 50-day moving average is $72.88 and its two-hundred day moving average is $65.47. The stock has a market capitalization of $5.97 billion, a P/E ratio of -1,151.84 and a beta of 1.77. RadNet, Inc. has a 12 month low of $33.44 and a 12 month 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.

Analyst Ratings Changes

RDNT has been the subject of several research reports. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial upped their target price on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group upped their price objective on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

Insider Activity at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the firm’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 directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’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 transaction of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents 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 owned by corporate 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.