Penserra Capital Management LLC Has $4.70 Million Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Penserra Capital Management LLC decreased its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,694 shares of the medical research company’s stock after selling 795 shares during the quarter. Penserra Capital Management LLC owned 0.09% of RadNet worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after acquiring an additional 515,342 shares in the last quarter. 8 Knots Management LLC purchased a new position in RadNet during the first quarter valued at approximately $20,273,000. Vanguard Group Inc. increased its stake in RadNet by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after buying an additional 345,822 shares during the period. Harbor Capital Advisors Inc. lifted its position in RadNet by 130.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after buying an additional 227,713 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after buying an additional 220,068 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RDNT shares. Jefferies Financial Group upped their price target 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. Truist Financial raised 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. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $82.04 on Monday. The business’s 50-day simple moving average is $71.01 and its 200-day simple moving average is $64.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 52 week low of $32.01 and a 52 week high of $93.65. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -1,171.83 and a beta of 1.75.

Insiders Place Their Bets

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.12% of the company’s stock.

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.