Fmr LLC Has $48.67 Million Position in RadNet, Inc. (NASDAQ:RDNT)

Fmr LLC increased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 701,396 shares of the medical research company’s stock after purchasing an additional 2,242 shares during the period. Fmr LLC’s holdings in RadNet were worth $48,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RDNT. Covestor Ltd lifted its holdings in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC increased its position in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC lifted its stake in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares during the last quarter. Highline Wealth Partners LLC bought a new position in RadNet in the 3rd quarter valued at approximately $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in RadNet in the third quarter valued at approximately $90,000. 77.90% of the stock is owned by institutional investors.

RadNet Stock Up 3.1 %

Shares of RDNT opened at $81.61 on Friday. The company has a market capitalization of $6.04 billion, a PE ratio of -1,165.69 and a beta of 1.77. The stock’s 50-day moving average price is $73.52 and its two-hundred day moving average price is $65.89. 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 $33.44 and a 12 month high of $93.65.

Insider Buying and Selling

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RDNT shares. Truist Financial increased their price target on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Jefferies Financial Group increased their target price on RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. Barclays boosted their price target on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. One investment 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’s stock. Based on data from MarketBeat.com, RadNet presently has a consensus rating of “Moderate Buy” and an average target price of $84.75.

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.