Charles Schwab Investment Management Inc. Decreases Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Charles Schwab Investment Management Inc. cut its holdings in RadNet, Inc. (NASDAQ:RDNT) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 637,311 shares of the medical research company’s stock after selling 18,858 shares during the period. Charles Schwab Investment Management Inc.’s holdings in RadNet were worth $44,223,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. Nisa Investment Advisors LLC raised its position in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of RadNet during the 3rd quarter valued at about $68,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of RadNet in the third quarter worth approximately $90,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective 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. Truist Financial increased their price target on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $57.00 to $79.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.25.

RadNet Price Performance

Shares of RadNet stock opened at $81.76 on Monday. The stock has a market cap of $6.05 billion, a P/E ratio of -1,167.83 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock’s fifty day moving average is $72.43 and its 200 day moving average is $65.13. RadNet, Inc. has a one year low of $32.37 and a one year high of $93.65.

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the 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 completion of the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

RadNet Company 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.