Navellier & Associates Inc. Sells 414 Shares of RadNet, Inc. (NASDAQ:RDNT)

Navellier & Associates Inc. lowered its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,061 shares of the medical research company’s stock after selling 414 shares during the quarter. Navellier & Associates Inc.’s holdings in RadNet were worth $629,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after buying an additional 345,822 shares during the period. Principal Financial Group Inc. boosted its stake in shares of RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after purchasing an additional 118,501 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 valued at $78,539,000 after purchasing an additional 119,875 shares during the period. Hood River Capital Management LLC lifted its stake 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 acquiring an additional 54,583 shares during the period. Finally, Clearbridge Investments LLC lifted its stake 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 acquiring an additional 185,523 shares during the period. Institutional investors own 77.90% of the company’s stock.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction 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 transaction, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.12% of the company’s stock.

RadNet Trading Down 0.6 %

Shares of NASDAQ:RDNT opened at $81.63 on Friday. RadNet, Inc. has a 1 year low of $32.00 and a 1 year high of $93.65. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -1,165.94 and a beta of 1.75. 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 business’s 50 day moving average price is $70.44 and its 200-day moving average price is $63.70.

Analysts Set New Price Targets

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

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.