Freedom Investment Management Inc. Sells 127 Shares of RadNet, Inc. (NASDAQ:RDNT)

Freedom Investment Management Inc. decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,309 shares of the medical research company’s stock after selling 127 shares during the quarter. Freedom Investment Management Inc.’s holdings in RadNet were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RDNT. Principal Financial Group Inc. boosted its stake in shares of RadNet by 8.5% in the 3rd 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 last quarter. Allspring Global Investments Holdings LLC lifted its holdings in RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after acquiring an additional 119,875 shares during the period. Hood River Capital Management LLC boosted its position in RadNet by 5.1% in the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company’s stock worth $66,327,000 after purchasing an additional 54,583 shares during the last quarter. Clearbridge Investments LLC boosted its position in RadNet by 33.9% in the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock worth $43,160,000 after purchasing an additional 185,523 shares during the last quarter. Finally, FMR LLC grew its stake in RadNet by 0.3% in the 3rd quarter. FMR LLC now owns 701,396 shares of the medical research company’s stock valued at $48,670,000 after purchasing an additional 2,242 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

RDNT stock opened at $81.76 on Friday. The firm has a market cap of $6.05 billion, a P/E ratio of -1,168.00 and a beta of 1.75. The firm’s fifty day moving average is $72.43 and its 200 day moving average is $65.08. RadNet, Inc. has a 52 week low of $32.37 and a 52 week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Wall Street Analyst Weigh In

Several analysts have commented on RDNT shares. Truist Financial lifted their price objective on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company’s 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 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 SEC, which is available through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction 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 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. 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.