Harbor Capital Advisors Inc. Acquires 12,795 Shares of RadNet, Inc. (NASDAQ:RDNT)

Harbor Capital Advisors Inc. raised its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 415,000 shares of the medical research company's stock after acquiring an additional 12,795 shares during the quarter. RadNet makes up 1.3% of Harbor Capital Advisors Inc.'s portfolio, making the stock its 3rd biggest holding. Harbor Capital Advisors Inc. owned approximately 0.56% of RadNet worth $28,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RDNT. HighTower Advisors LLC boosted its holdings in RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after acquiring an additional 136 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company's stock worth $302,000 after purchasing an additional 160 shares during the period. Chartwell Investment Partners LLC raised its holdings in RadNet by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company's stock valued at $1,726,000 after buying an additional 193 shares during the period. Virtue Capital Management LLC grew its stake in RadNet by 1.4% during the third quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock worth $1,345,000 after buying an additional 264 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company's stock worth $344,000 after acquiring an additional 296 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on 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 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 position. 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 firm's stock in a transaction dated Monday, November 25th. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company's stock.

RadNet Price Performance

NASDAQ:RDNT traded down $3.47 during midday trading on Friday, hitting $68.78. 525,292 shares of the stock were exchanged, compared to its average volume of 462,879. 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 has a market capitalization of $5.09 billion, a price-to-earnings ratio of -982.43 and a beta of 1.79. The business has a 50-day moving average price of $76.41 and a two-hundred day moving average price of $68.27. RadNet, Inc. has a one year low of $35.16 and a one year high of $93.65.

Wall Street Analyst Weigh In

Several brokerages recently commented on RDNT. Sidoti upgraded RadNet to a "strong-buy" rating in a report on Friday, October 4th. Truist Financial boosted their target price on shares of RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, November 29th. Barclays raised their price target on shares of RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upped their price objective on shares of RadNet from $82.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. One investment 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. Based on data from MarketBeat.com, RadNet has an average rating of "Moderate Buy" and a consensus price target 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.