Intech Investment Management LLC Acquires 13,505 Shares of RadNet, Inc. (NASDAQ:RDNT)

Intech Investment Management LLC lifted its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 178.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,078 shares of the medical research company's stock after purchasing an additional 13,505 shares during the quarter. Intech Investment Management LLC's holdings in RadNet were worth $1,463,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Moran Wealth Management LLC lifted its position in RadNet by 27.3% in the third quarter. Moran Wealth Management LLC now owns 9,986 shares of the medical research company's stock worth $693,000 after purchasing an additional 2,142 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in RadNet in the third quarter valued at about $2,756,000. Jennison Associates LLC bought a new stake in RadNet in the third quarter valued at about $1,490,000. Segall Bryant & Hamill LLC increased its stake in RadNet by 75.9% in the third quarter. Segall Bryant & Hamill LLC now owns 209,582 shares of the medical research company's stock valued at $14,543,000 after acquiring an additional 90,443 shares during the period. Finally, Pathstone Holdings LLC increased its stake in RadNet by 58.5% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company's stock valued at $1,908,000 after acquiring an additional 10,151 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Price Performance

NASDAQ:RDNT traded down $0.02 on Tuesday, reaching $81.45. The stock had a trading volume of 363,750 shares, compared to its average volume of 552,343. RadNet, Inc. has a 1-year low of $32.01 and a 1-year high of $93.65. The stock has a fifty day moving average price of $71.32 and a 200-day moving average price of $64.41. The company has a market capitalization of $6.03 billion, a P/E ratio of -1,163.86 and a beta of 1.75. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Analysts Set New Price Targets

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

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.12% of the stock is owned by company insiders.

About RadNet

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.