Guidance Capital Inc. Purchases Shares of 7,286 RadNet, Inc. (NASDAQ:RDNT)

Guidance Capital Inc. bought a new position in RadNet, Inc. (NASDAQ:RDNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,286 shares of the medical research company's stock, valued at approximately $467,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Portolan Capital Management LLC boosted its stake in shares of RadNet by 384.8% during the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings 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 purchasing an additional 227,713 shares during the period. Cerity Partners LLC boosted its position in RadNet by 131.4% during the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock worth $26,891,000 after purchasing an additional 220,068 shares in the last quarter. JB Capital Partners LP grew its holdings in RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock valued at $104,367,000 after purchasing an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock valued at $78,539,000 after buying an additional 119,875 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.12% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial reiterated a "buy" rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Barclays decreased their price objective on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, RadNet has a consensus rating of "Moderate Buy" and a consensus target price of $75.50.

RadNet Price Performance

RDNT stock traded down $1.59 during midday trading on Friday, reaching $62.77. The stock had a trading volume of 625,481 shares, compared to its average volume of 918,427. RadNet, Inc. has a 52-week low of $35.16 and a 52-week high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company's fifty day simple moving average is $70.62 and its 200 day simple moving average is $68.95. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -896.59 and a beta of 1.79.

RadNet 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.