Geode Capital Management LLC Buys 11,613 Shares of RadNet, Inc. (NASDAQ:RDNT)

Geode Capital Management LLC lifted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,555,214 shares of the medical research company’s stock after purchasing an additional 11,613 shares during the quarter. Geode Capital Management LLC’s holdings in RadNet were worth $107,936,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC grew its holdings in RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares in the last quarter. AQR Capital Management LLC boosted its position 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 acquiring an additional 160 shares during the period. Chartwell Investment Partners LLC grew its stake in RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock valued at $1,726,000 after acquiring an additional 193 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings 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 acquiring an additional 296 shares during the period. Finally, Hanseatic Management Services Inc. increased its holdings in RadNet by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after acquiring an additional 353 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RadNet stock opened at $72.41 on Thursday. RadNet, Inc. has a fifty-two week low of $33.44 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $5.36 billion, a P/E ratio of -1,034.28 and a beta of 1.77. The firm’s fifty day moving average price is $75.09 and its 200-day moving average price is $66.96.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $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 can be accessed through this link. 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 value 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. This represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RDNT shares. Truist Financial raised their price target on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday, November 29th. Jefferies Financial Group lifted their price objective on RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays raised their price target on RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RadNet presently has a consensus rating of “Moderate Buy” and an average target price of $84.75.

RadNet 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.