JPMorgan Chase & Co. Purchases 1,838 Shares of RadNet, Inc. (NASDAQ:RDNT)

JPMorgan Chase & Co. boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 132,997 shares of the medical research company’s stock after purchasing an additional 1,838 shares during the period. JPMorgan Chase & Co.’s holdings in RadNet were worth $9,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares in the last quarter. Highline Wealth Partners LLC bought a new position in RadNet during the 3rd quarter valued at approximately $68,000. Peterson Financial Group Inc. bought a new position in RadNet during the 3rd quarter valued at approximately $90,000. GAMMA Investing LLC boosted its stake in RadNet by 57.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. Finally, Profund Advisors LLC purchased a new stake in RadNet during the 2nd quarter valued at $207,000. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RDNT stock opened at $66.59 on Tuesday. The company has a market cap of $4.93 billion, a P/E ratio of -951.15 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s fifty day moving average price is $76.43 and its 200-day moving average price is $68.55. RadNet, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays increased their target price on RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their price target on RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Truist Financial raised their price target on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.75.

Insider Activity at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by company insiders.

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.