Intech Investment Management LLC Has $1.46 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Intech Investment Management LLC grew its holdings in RadNet, Inc. (NASDAQ:RDNT) by 178.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 21,078 shares of the medical research company’s stock after acquiring an additional 13,505 shares during the period. Intech Investment Management LLC’s holdings in RadNet were worth $1,463,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of RadNet during the 1st quarter worth about $274,000. CANADA LIFE ASSURANCE Co increased its position in shares of RadNet by 10.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 66,304 shares of the medical research company’s stock worth $3,223,000 after purchasing an additional 6,257 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of RadNet by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,054 shares of the medical research company’s stock worth $1,706,000 after purchasing an additional 2,222 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of RadNet by 108.6% during the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after purchasing an additional 33,335 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RadNet Stock Down 0.7 %

Shares of NASDAQ:RDNT opened at $81.47 on Tuesday. RadNet, Inc. has a 12 month low of $32.01 and a 12 month high of $93.65. The company’s 50-day moving average price is $71.01 and its two-hundred day moving average price is $64.21. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.03 billion, a P/E ratio of -1,163.86 and a beta of 1.75.

Insiders Place Their Bets

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.