Fmr LLC Has $48.67 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Fmr LLC increased its stake in RadNet, Inc. (NASDAQ:RDNT) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 701,396 shares of the medical research company’s stock after buying an additional 2,242 shares during the quarter. Fmr LLC owned approximately 0.95% of RadNet worth $48,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its stake in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC raised 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 purchasing an additional 751 shares during the period. GAMMA Investing LLC lifted its stake in 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 bought a new position in RadNet during the third quarter worth about $68,000. Finally, Peterson Financial Group Inc. acquired a new position in RadNet during the third quarter worth approximately $90,000. 77.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial lifted their target price on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Barclays lifted their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group lifted their target price on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RadNet has an average rating of “Moderate Buy” and an average price target of $84.75.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $81.61 on Friday. 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 firm has a market cap of $6.04 billion, a price-to-earnings ratio of -1,165.69 and a beta of 1.77. The stock’s fifty day moving average price is $73.52 and its two-hundred day moving average price is $65.89. RadNet, Inc. has a one year low of $33.44 and a one year high of $93.65.

Insider Activity at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred 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 in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,909 shares in the company, valued at $5,136,519.85. This represents 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 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.