Royce & Associates LP Sells 63,560 Shares of RadNet, Inc. (NASDAQ:RDNT)

Royce & Associates LP reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 37.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,039 shares of the medical research company’s stock after selling 63,560 shares during the period. Royce & Associates LP owned about 0.15% of RadNet worth $7,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC lifted its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of RadNet in the third quarter worth approximately $68,000. Finally, SG Americas Securities LLC lifted its stake in shares of RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after acquiring an additional 291 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Insider Transactions at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. This represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDNT. Truist Financial lifted their price objective on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group lifted their price objective on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.75.

RadNet Price Performance

Shares of RDNT opened at $79.58 on Monday. RadNet, Inc. has a 52-week low of $31.36 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16. The business’s 50 day moving average price is $69.29 and its two-hundred day moving average price is $63.09. The firm has a market cap of $5.89 billion, a PE ratio of -1,136.69 and a beta of 1.75.

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.