4,375 Shares in RadNet, Inc. (NASDAQ:RDNT) Bought by Modera Wealth Management LLC

Modera Wealth Management LLC purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,375 shares of the medical research company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its position in RadNet by 1.1% in the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock valued at $8,740,000 after purchasing an additional 1,895 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock valued at $82,000 after buying an additional 300 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of RadNet by 28.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,945 shares of the medical research company’s stock valued at $345,000 after buying an additional 1,545 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in RadNet by 50.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 137,870 shares of the medical research company’s stock worth $6,855,000 after buying an additional 46,169 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in RadNet by 239.5% during the 1st quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company’s stock worth $663,000 after acquiring an additional 9,409 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RadNet news, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the sale, the chief operating officer owned 249,183 shares of the company’s stock, valued at approximately $14,950,980. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the transaction, the executive vice president directly owned 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,447 shares of company stock worth $3,613,220. 5.60% of the stock is owned by company insiders.

RadNet Stock Down 0.1%

NASDAQ RDNT opened at $54.69 on Friday. The business has a fifty day moving average price of $56.81 and a two-hundred day moving average price of $56.09. The stock has a market capitalization of $4.10 billion, a PE ratio of -127.18 and a beta of 1.43. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01.

Analysts Set New Price Targets

A number of analysts recently weighed in on RDNT shares. B. Riley began coverage on shares of RadNet in a report on Friday, June 13th. They issued a “buy” rating and a $69.00 price target for the company. Wall Street Zen downgraded RadNet from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Finally, Truist Financial set a $74.00 price target on RadNet in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, RadNet presently has an average rating of “Buy” and an average target price of $69.60.

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.