Public Sector Pension Investment Board Sells 8,200 Shares of RadNet, Inc. (NASDAQ:RDNT)

Public Sector Pension Investment Board lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,129 shares of the medical research company’s stock after selling 8,200 shares during the quarter. Public Sector Pension Investment Board owned 0.19% of RadNet worth $9,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC grew its position in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in RadNet in the 3rd quarter worth approximately $68,000. Finally, Peterson Financial Group Inc. bought a new stake in RadNet in the third quarter valued at approximately $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 0.9 %

Shares of RadNet stock opened at $81.76 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 12-month low of $32.37 and a 12-month high of $93.65. The company has a market cap of $6.05 billion, a P/E ratio of -1,168.00 and a beta of 1.75. The company’s fifty day simple moving average is $72.43 and its two-hundred day simple moving average is $65.02.

Insider Activity at RadNet

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

Analysts Set New Price Targets

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

RadNet Company 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.