Swiss National Bank Sells 500 Shares of RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank lowered its position in RadNet, Inc. (NASDAQ:RDNT) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,700 shares of the medical research company’s stock after selling 500 shares during the quarter. Swiss National Bank owned 0.17% of RadNet worth $8,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Peterson Financial Group Inc. bought a new position in shares of RadNet during the 3rd quarter worth approximately $90,000. Sawgrass Asset Management LLC bought a new position in shares of RadNet during the 3rd quarter worth approximately $207,000. Natixis Advisors LLC lifted its position in shares of RadNet by 11.4% during the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after buying an additional 2,305 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of RadNet during the 3rd quarter worth approximately $2,922,000. Finally, Chartwell Investment Partners LLC lifted its position 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. Institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction 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 sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.12% of the company’s stock.

RadNet Stock Down 0.7 %

NASDAQ RDNT opened at $81.47 on Tuesday. The stock has a fifty day moving average of $71.01 and a 200-day moving average of $64.21. The stock has a market capitalization of $6.03 billion, a P/E ratio of -1,163.86 and a beta of 1.75. RadNet, Inc. has a 52 week low of $32.01 and a 52 week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

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.