Loomis Sayles & Co. L P Has $59.62 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Loomis Sayles & Co. L P decreased its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 859,136 shares of the medical research company's stock after selling 19,664 shares during the period. Loomis Sayles & Co. L P owned approximately 1.16% of RadNet worth $59,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd grew its position in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock valued at $50,000 after buying an additional 751 shares during the period. GAMMA Investing LLC lifted its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock valued at $51,000 after buying an additional 370 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet during the third quarter worth about $68,000. Finally, Peterson Financial Group Inc. bought a new position in RadNet during the third quarter valued at about $90,000. Institutional investors own 77.90% of the company's stock.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.12% of the company's stock.

RadNet Price Performance

Shares of NASDAQ RDNT traded down $0.57 during midday trading on Monday, reaching $81.47. 604,373 shares of the company traded hands, compared to its average volume of 553,170. RadNet, Inc. has a 12 month low of $32.01 and a 12 month 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 stock's 50-day simple moving average is $71.01 and its 200-day simple moving average is $64.21. The firm has a market cap of $6.03 billion, a PE ratio of -1,192.86 and a beta of 1.75.

Wall Street Analysts Forecast Growth

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

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.