RadNet, Inc. (NASDAQ:RDNT) Stock Position Lifted by Navellier & Associates Inc.

Navellier & Associates Inc. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 4.9% in the 4th quarter, HoldingsChannel reports. The firm owned 9,501 shares of the medical research company’s stock after purchasing an additional 440 shares during the quarter. Navellier & Associates Inc.’s holdings in RadNet were worth $664,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of RDNT. Portolan Capital Management LLC grew its stake in shares of RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock worth $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock valued at $103,532,000 after buying an additional 344,146 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after buying an additional 227,713 shares during the period. Cerity Partners LLC lifted its holdings in shares of RadNet by 131.4% in the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after buying an additional 220,068 shares during the period. Finally, JB Capital Partners LP lifted its holdings in shares of RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after buying an additional 206,850 shares during the period. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RDNT. Truist Financial restated a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

RadNet Trading Down 5.1 %

Shares of NASDAQ RDNT opened at $59.47 on Friday. RadNet, Inc. has a 12 month low of $36.47 and a 12 month high of $93.65. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -849.45 and a beta of 1.79. 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 business has a fifty day simple moving average of $67.00 and a 200-day simple moving average of $69.14.

Insider Buying and Selling

In related news, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.