BNP Paribas Financial Markets Buys 8,677 Shares of RadNet, Inc. (NASDAQ:RDNT)

BNP Paribas Financial Markets grew its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 128.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,447 shares of the medical research company's stock after acquiring an additional 8,677 shares during the quarter. BNP Paribas Financial Markets' holdings in RadNet were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of RDNT. Covestor Ltd boosted its holdings in RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock worth $50,000 after purchasing an additional 751 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of RadNet during the 3rd quarter worth $68,000. Peterson Financial Group Inc. bought a new stake in shares of RadNet during the 3rd quarter worth $90,000. Finally, GAMMA Investing LLC raised its stake in shares of RadNet by 57.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock worth $94,000 after purchasing an additional 496 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays lifted their target price on RadNet from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their target price on RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Sidoti upgraded 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 research note on Friday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, RadNet currently has an average rating of "Moderate Buy" and an average price target of $84.75.

RadNet Stock Performance

RadNet stock traded up $1.67 during midday trading on Wednesday, reaching $80.59. The stock had a trading volume of 316,485 shares, compared to its average volume of 548,023. RadNet, Inc. has a 12 month low of $33.44 and a 12 month high of $93.65. The firm's 50-day moving average price is $74.16 and its 200 day moving average price is $66.33. The firm has a market capitalization of $5.97 billion, a PE ratio of -1,151.29 and a beta of 1.77. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Activity

In other news, insider Ranjan Jayanathan sold 38,557 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 192,724 shares of the company's stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction dated 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 directly owns 62,909 shares of the company's stock, valued at $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.

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.