Thrivent Financial for Lutherans Sells 4,090 Shares of RadNet, Inc. (NASDAQ:RDNT)

Thrivent Financial for Lutherans reduced its stake in RadNet, Inc. (NASDAQ:RDNT) by 7.4% during the third quarter, HoldingsChannel.com reports. The fund owned 51,108 shares of the medical research company’s stock after selling 4,090 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RadNet were worth $3,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of RDNT. Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 515,342 shares in the last quarter. Vanguard Group Inc. increased its position in RadNet by 8.1% in the first 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. Harbor Capital Advisors Inc. raised its stake in RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after purchasing an additional 227,713 shares in the last quarter. Whittier Trust Co. purchased a new stake in RadNet during the second quarter valued at $11,069,000. Finally, Clearbridge Investments LLC lifted its position in RadNet by 33.9% during the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock valued at $43,160,000 after purchasing an additional 185,523 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial boosted 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. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group raised their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One research 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 stock. According to data from MarketBeat, RadNet currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Stock Performance

Shares of NASDAQ:RDNT opened at $81.47 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12 month low of $32.01 and a 12 month high of $93.65. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of -1,163.86 and a beta of 1.75. The firm’s 50-day moving average is $71.01 and its 200 day moving average is $64.21.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the company’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 directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.