RadNet, Inc. (NASDAQ:RDNT) Stake Lessened by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,747 shares of the medical research company’s stock after selling 90,421 shares during the period. Wellington Management Group LLP’s holdings in RadNet were worth $35,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RDNT. HighTower Advisors LLC increased its holdings in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares during the period. AQR Capital Management LLC increased its stake in RadNet by 3.2% in the 2nd 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 stake in shares of RadNet by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after acquiring an additional 193 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock valued at $344,000 after purchasing an additional 296 shares in 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. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Down 2.6 %

Shares of RadNet stock opened at $78.46 on Friday. RadNet, Inc. has a 12-month low of $33.44 and a 12-month 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. The stock has a 50 day moving average price of $74.37 and a two-hundred day moving average price of $66.42. The stock has a market capitalization of $5.81 billion, a P/E ratio of -1,120.86 and a beta of 1.77.

Analyst Upgrades and Downgrades

RDNT has been the subject of several research reports. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays boosted their target price on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group increased 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. Finally, Truist Financial lifted their price objective on shares of RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, RadNet has an average rating of “Moderate Buy” and an average target price of $84.75.

Insider Transactions at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following 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 disclosure for this sale can be found here. 5.12% of the stock is owned by corporate insiders.

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.