Barclays PLC Grows Stake in RadNet, Inc. (NASDAQ:RDNT)

Barclays PLC boosted its stake in RadNet, Inc. (NASDAQ:RDNT) by 373.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 116,978 shares of the medical research company’s stock after buying an additional 92,291 shares during the quarter. Barclays PLC’s holdings in RadNet were worth $8,118,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its position in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in RadNet in the 3rd quarter valued at $68,000. Peterson Financial Group Inc. acquired a new stake in RadNet during the 3rd quarter worth $90,000. Finally, GAMMA Investing LLC grew its holdings in shares of RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after buying an additional 496 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Stock Performance

RadNet stock opened at $76.52 on Wednesday. The firm has a 50 day simple moving average of $74.79 and a 200-day simple moving average of $66.79. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -1,093.14 and a beta of 1.77. 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.

Insider Buying and Selling

In other 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 value of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.