Nisa Investment Advisors LLC Boosts Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Nisa Investment Advisors LLC raised its position in RadNet, Inc. (NASDAQ:RDNT) by 20.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,291 shares of the medical research company’s stock after purchasing an additional 716 shares during the quarter. Nisa Investment Advisors LLC’s holdings in RadNet were worth $300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Connective Portfolio Management LLC purchased a new position in shares of RadNet in the 4th quarter worth about $2,177,000. USA Financial Formulas bought a new position in RadNet in the fourth quarter valued at about $30,000. Harbor Capital Advisors Inc. boosted its holdings in shares of RadNet by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 415,000 shares of the medical research company’s stock worth $28,984,000 after buying an additional 12,795 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of RadNet by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after acquiring an additional 1,838 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after buying an additional 118,501 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RadNet stock opened at $67.17 on Thursday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -959.43 and a beta of 1.79. RadNet, Inc. has a 1-year low of $35.16 and a 1-year high of $93.65. 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 firm has a 50 day simple moving average of $72.86 and a 200-day simple moving average of $68.83.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays decreased their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

Insider Activity

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction dated 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 sale, 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.

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.