RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 2.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 637,311 shares of the medical research company's stock after selling 18,858 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of RadNet worth $44,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Intech Investment Management LLC boosted its position in shares of RadNet by 178.3% in the third quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company's stock worth $1,463,000 after purchasing an additional 13,505 shares during the period. Moran Wealth Management LLC increased its stake in RadNet by 27.3% in the 3rd quarter. Moran Wealth Management LLC now owns 9,986 shares of the medical research company's stock worth $693,000 after buying an additional 2,142 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of RadNet in the third quarter valued at about $2,756,000. Jennison Associates LLC bought a new stake in RadNet during the 3rd quarter valued at approximately $1,490,000. Finally, Segall Bryant & Hamill LLC raised its stake in RadNet by 75.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 209,582 shares of the medical research company's stock valued at $14,543,000 after purchasing an additional 90,443 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Trading Up 1.3 %

RDNT stock traded up $1.09 during mid-day trading on Monday, reaching $82.85. 390,421 shares of the stock traded hands, compared to its average volume of 550,481. RadNet, Inc. has a one year low of $33.44 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50-day moving average price of $72.66 and a two-hundred day moving average price of $65.31. The stock has a market capitalization of $6.13 billion, a PE ratio of -1,183.57 and a beta of 1.75.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RDNT. Barclays upgraded shares of RadNet from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Jefferies Financial Group lifted their target price on RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Truist Financial increased their target price on RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Friday. Finally, Sidoti raised shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.25.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of RadNet 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 completion of the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction 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. 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 company insiders.

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.