RadNet, Inc. (NASDAQ:RDNT) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,061 shares of the medical research company’s stock after purchasing an additional 41,381 shares during the period. Franklin Resources Inc.’s holdings in RadNet were worth $27,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new position in RadNet during the third quarter worth $2,922,000. Intech Investment Management LLC acquired a new position in shares of RadNet during the 2nd quarter worth $446,000. Pathstone Holdings LLC grew its stake in shares of RadNet by 58.5% during the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after purchasing an additional 10,151 shares during the period. Steigerwald Gordon & Koch Inc. increased its holdings in shares of RadNet by 153.9% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock valued at $911,000 after purchasing an additional 9,376 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of RadNet by 112.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 13,495 shares of the medical research company’s stock valued at $936,000 after purchasing an additional 7,128 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company’s 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 transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. The trade was 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 currently owned by company insiders.

RadNet Trading Down 5.4 %

Shares of RDNT opened at $72.41 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. RadNet, Inc. has a 1-year low of $33.44 and a 1-year high of $93.65. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -1,034.28 and a beta of 1.77. The firm has a 50 day simple moving average of $75.09 and a 200-day simple moving average of $66.96.

Analyst Ratings Changes

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

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.