RadNet, Inc. (NASDAQ:RDNT) Shares Sold by LMR Partners LLP

LMR Partners LLP decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,076 shares of the medical research company’s stock after selling 2,005 shares during the quarter. LMR Partners LLP’s holdings in RadNet were worth $1,740,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RDNT. AQR Capital Management LLC raised its position in RadNet by 3.2% during the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock valued at $302,000 after buying an additional 160 shares during the period. Chartwell Investment Partners LLC increased its position in RadNet by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after purchasing an additional 193 shares during the last quarter. SG Americas Securities LLC increased its position in RadNet by 8.7% in the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in RadNet by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after purchasing an additional 296 shares during the last quarter. Finally, Hanseatic Management Services Inc. increased its position in RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Insider Activity at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. This represents a 23.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RDNT has been the subject of several recent analyst reports. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Truist Financial upped their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.75.

RadNet Stock Performance

Shares of RadNet stock opened at $79.09 on Tuesday. The firm has a fifty day moving average of $69.29 and a two-hundred day moving average of $63.18. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -1,128.55 and a beta of 1.75. RadNet, Inc. has a 52 week low of $31.55 and a 52 week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16.

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.