RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Castleark Management LLC

Castleark Management LLC trimmed its holdings in RadNet, Inc. (NASDAQ:RDNT) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,213 shares of the medical research company’s stock after selling 5,250 shares during the period. Castleark Management LLC owned 0.19% of RadNet worth $9,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of RadNet by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,054 shares of the medical research company’s stock worth $1,706,000 after acquiring an additional 2,222 shares during the last quarter. GAMMA Investing LLC raised its holdings in RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after buying an additional 370 shares during the period. SteelPeak Wealth LLC lifted its stake in shares of RadNet by 25.0% during the second quarter. SteelPeak Wealth LLC now owns 25,000 shares of the medical research company’s stock worth $1,473,000 after purchasing an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after buying an additional 751 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of RadNet by 12.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the medical research company’s stock valued at $1,974,000 after buying an additional 3,600 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $81.61 on Friday. RadNet, Inc. has a 12 month low of $33.44 and a 12 month high of $93.65. The stock has a 50-day moving average price of $73.52 and a two-hundred day moving average price of $65.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Activity at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This represents 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 insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RDNT. Jefferies Financial Group boosted their target price on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays lifted their target price on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Truist Financial boosted their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.75.

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.