Public Sector Pension Investment Board Buys 44,913 Shares of RadNet, Inc. $RDNT

Public Sector Pension Investment Board lifted its stake in RadNet, Inc. (NASDAQ:RDNT) by 20.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 269,994 shares of the medical research company’s stock after purchasing an additional 44,913 shares during the quarter. Public Sector Pension Investment Board owned about 0.35% of RadNet worth $20,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after buying an additional 402 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of RadNet in the 2nd quarter worth about $35,000. Salomon & Ludwin LLC bought a new stake in shares of RadNet in the 3rd quarter worth about $37,000. Finally, State of Wyoming purchased a new position in shares of RadNet during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 6.6%

RDNT opened at $69.54 on Friday. The stock’s fifty day moving average is $72.54 and its two-hundred day moving average is $73.23. The company has a market capitalization of $5.36 billion, a P/E ratio of -409.03 and a beta of 1.49. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $85.84. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.82.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 25,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the transaction, the chief accounting officer directly owned 205,138 shares in the company, valued at $15,602,796.28. This represents a 10.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 50,000 shares of company stock worth $3,902,254. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDNT. UBS Group set a $92.00 price objective on shares of RadNet in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Truist Financial set a $90.00 price objective on RadNet in a report on Wednesday, December 17th. Finally, B. Riley Financial upped their price objective on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and an average price target of $90.33.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.