JB Capital Partners LP Boosts Stock Position in RadNet, Inc. (NASDAQ:RDNT)

JB Capital Partners LP boosted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,504,061 shares of the medical research company’s stock after buying an additional 206,850 shares during the quarter. RadNet accounts for approximately 20.0% of JB Capital Partners LP’s investment portfolio, making the stock its largest position. JB Capital Partners LP’s holdings in RadNet were worth $104,367,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its position in 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 buying an additional 435 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of RadNet by 774.2% during the second 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 during the period. GAMMA Investing LLC raised its position in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of RadNet during the third quarter valued at $68,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of RadNet in the 3rd quarter valued at $90,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of RDNT opened at $82.49 on Friday. The business’s 50-day moving average is $72.18 and its 200-day moving average is $64.84. 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 company has a market capitalization of $6.11 billion, a price-to-earnings ratio of -1,178.26 and a beta of 1.75. RadNet, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $93.65.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. Truist Financial raised their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group boosted their target price on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Insider Activity at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business’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 transaction, the executive vice president now owns 62,909 shares in the company, valued at $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 is available through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

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.