State Street Corp Purchases 30,244 Shares of RadNet, Inc. (NASDAQ:RDNT)

State Street Corp boosted its position in RadNet, Inc. (NASDAQ:RDNT) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,446,179 shares of the medical research company’s stock after purchasing an additional 30,244 shares during the quarter. State Street Corp owned approximately 3.30% of RadNet worth $169,740,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RDNT. Nisa Investment Advisors LLC raised its holdings in RadNet by 774.2% in 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 in the last quarter. Louisiana State Employees Retirement System raised its holdings in RadNet by 12.0% in the second quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the medical research company’s stock worth $1,974,000 after purchasing an additional 3,600 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in RadNet by 30.6% in the second quarter. Bank of New York Mellon Corp now owns 578,565 shares of the medical research company’s stock worth $34,089,000 after purchasing an additional 135,565 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in RadNet in the second quarter worth about $11,069,000. 77.90% of the stock is currently owned by institutional investors.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $78.34 on Friday. The business’s 50 day moving average price is $74.56 and its 200 day moving average price is $66.56. The firm has a market cap of $5.80 billion, a P/E ratio of -1,118.98 and a beta of 1.77. RadNet, Inc. has a 52 week low of $33.44 and a 52 week high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Activity at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This represents a 16.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RDNT. Truist Financial upped their price objective on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday, November 29th. Barclays upped their price objective on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Jefferies Financial Group upped their price objective on shares of RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Sidoti upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.75.

RadNet 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.