Intech Investment Management LLC Acquires 13,505 Shares of RadNet, Inc. (NASDAQ:RDNT)

Intech Investment Management LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 178.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,078 shares of the medical research company’s stock after acquiring an additional 13,505 shares during the period. Intech Investment Management LLC’s holdings in RadNet were worth $1,463,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after acquiring an additional 33,335 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in RadNet in the third quarter worth approximately $2,922,000. Steigerwald Gordon & Koch Inc. grew its position in RadNet by 153.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock worth $911,000 after acquiring an additional 9,376 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in RadNet in the third quarter worth approximately $750,000. Finally, Sei Investments Co. grew its position in RadNet by 139.9% in the second quarter. Sei Investments Co. now owns 158,123 shares of the medical research company’s stock worth $9,317,000 after acquiring an additional 92,224 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Price Performance

Shares of RadNet stock opened at $81.47 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a fifty-two week low of $32.01 and a fifty-two week high of $93.65. The firm has a fifty day moving average price of $71.01 and a two-hundred day moving average price of $64.21. The company has a market cap of $6.03 billion, a PE ratio of -1,163.86 and a beta of 1.75.

Insider Buying and Selling at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.12% of the company’s stock.

Analyst Upgrades and Downgrades

RDNT has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays raised 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 report on Friday, September 6th. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group upped their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Company 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.