Connor Clark & Lunn Investment Management Ltd. Buys Shares of 39,720 RadNet, Inc. (NASDAQ:RDNT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in RadNet, Inc. (NASDAQ:RDNT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 39,720 shares of the medical research company’s stock, valued at approximately $2,756,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of RadNet as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its position in RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock worth $302,000 after purchasing an additional 160 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of RadNet by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after buying an additional 193 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of RadNet by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after buying an additional 296 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in shares of RadNet by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 353 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after buying an additional 370 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Price Performance

RadNet stock opened at $82.04 on Monday. RadNet, Inc. has a 12-month low of $32.01 and a 12-month high of $93.65. The stock has a market cap of $6.07 billion, a P/E ratio of -1,171.83 and a beta of 1.75. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $71.01 and a 200-day simple moving average of $64.12.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of recent research reports. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group lifted their price target 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. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, 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 report on Monday, September 23rd. One research 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 company’s stock. According to MarketBeat, RadNet has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Buying and Selling

In other news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction on 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 directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.12% of the stock is owned by company insiders.

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.