Wellington Management Group LLP decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 14.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,747 shares of the medical research company's stock after selling 90,421 shares during the quarter. Wellington Management Group LLP owned about 0.70% of RadNet worth $35,996,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after buying an additional 136 shares during the period. AQR Capital Management LLC boosted its stake in shares of RadNet by 3.2% in the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company's stock valued at $302,000 after purchasing an additional 160 shares during the period. Chartwell Investment Partners LLC grew its holdings in RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company's stock valued at $1,726,000 after purchasing an additional 193 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in RadNet by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company's stock worth $344,000 after buying an additional 296 shares during the period. Finally, Hanseatic Management Services Inc. lifted its holdings in RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company's stock worth $1,177,000 after buying an additional 353 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.
In related news, 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 value of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction 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 firm's stock in a transaction dated 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. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.
RDNT has been the topic of a number of analyst reports. Sidoti raised RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Barclays increased their price objective on shares of RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their target price on shares of RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.75.
Check Out Our Latest Analysis on RadNet
Shares of RDNT opened at $78.46 on Friday. RadNet, Inc. has a 12-month low of $33.44 and a 12-month high of $93.65. The business's fifty day moving average price is $74.37 and its 200 day moving average price is $66.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $5.81 billion, a PE ratio of -1,120.86 and a beta of 1.77.
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.
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