Penserra Capital Management LLC Sells 795 Shares of RadNet, Inc. (NASDAQ:RDNT)

Penserra Capital Management LLC decreased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,694 shares of the medical research company’s stock after selling 795 shares during the period. Penserra Capital Management LLC’s holdings in RadNet were worth $4,697,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of RadNet by 108.6% during the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after purchasing an additional 33,335 shares during the last quarter. Quadrature Capital Ltd bought a new position in RadNet in the 1st quarter valued at $1,049,000. Lisanti Capital Growth LLC bought a new position in RadNet in the 3rd quarter valued at $2,922,000. Intech Investment Management LLC acquired a new stake in shares of RadNet in the 2nd quarter valued at $446,000. Finally, Steigerwald Gordon & Koch Inc. raised its position in shares of RadNet by 153.9% during 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 during the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 0.9 %

RDNT stock opened at $82.04 on Monday. 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 stock has a market capitalization of $6.07 billion, a P/E ratio of -1,171.83 and a beta of 1.75. RadNet, Inc. has a fifty-two week low of $32.01 and a fifty-two week high of $93.65. The business has a 50-day moving average of $71.01 and a 200-day moving average of $64.12.

Analysts Set New Price Targets

Several research firms recently issued reports on RDNT. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Truist Financial raised their price objective on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group upped their target price on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Insiders Place Their Bets

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.12% of the company’s stock.

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.