Amalgamated Bank Lowers Position in RadNet, Inc. (NASDAQ:RDNT)

Amalgamated Bank lessened its stake in RadNet, Inc. (NASDAQ:RDNT) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,181 shares of the medical research company’s stock after selling 1,087 shares during the period. Amalgamated Bank’s holdings in RadNet were worth $1,331,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Clearbridge Investments LLC purchased a new position in RadNet in the 1st quarter valued at $26,617,000. Allspring Global Investments Holdings LLC increased its position in shares of RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares during the last quarter. 8 Knots Management LLC acquired a new stake in shares of RadNet during the 1st quarter worth about $20,273,000. 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 during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of RadNet by 130.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after purchasing an additional 227,713 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 1.2 %

RDNT opened at $82.56 on Thursday. The business’s fifty day moving average is $68.58 and its two-hundred day moving average is $62.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -1,179.26 and a beta of 1.75. RadNet, Inc. has a one year low of $30.27 and a one year high of $93.65.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RDNT shares. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group boosted their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial lifted their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

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.