Cerity Partners LLC Buys 220,068 Shares of RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC increased its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 131.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 387,536 shares of the medical research company's stock after acquiring an additional 220,068 shares during the quarter. Cerity Partners LLC owned about 0.52% of RadNet worth $26,891,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RDNT. Allspring Global Investments Holdings LLC increased its position in shares of RadNet by 103.8% in the second 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 during the last quarter. 8 Knots Management LLC acquired a new stake in shares of RadNet in the first quarter valued at approximately $20,273,000. Vanguard Group Inc. increased its holdings in shares of RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company's stock worth $223,862,000 after acquiring an additional 345,822 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake 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 valued at $27,909,000 after acquiring an additional 227,713 shares during the period. Finally, Whittier Trust Co. bought a new position in RadNet during the second quarter worth $11,069,000. Institutional investors own 77.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Truist Financial boosted their target price on shares of RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Finally, Barclays upgraded shares of RadNet from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.75.

Insider Buying and Selling at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were 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 represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.12% of the company's stock.

RadNet Price Performance

RadNet stock traded down $0.57 during mid-day trading on Monday, reaching $81.47. The company had a trading volume of 604,262 shares, compared to its average volume of 553,170. The business has a fifty day simple moving average of $71.01 and a 200 day simple moving average of $64.21. The company has a market cap of $6.03 billion, a P/E ratio of -1,192.86 and a beta of 1.75. RadNet, Inc. has a fifty-two week low of $32.01 and a fifty-two 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.

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.