RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Pier Capital LLC

Pier Capital LLC trimmed its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 30.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,485 shares of the medical research company's stock after selling 53,097 shares during the quarter. Pier Capital LLC owned approximately 0.16% of RadNet worth $8,430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC grew 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 worth $545,000 after purchasing an additional 136 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of RadNet by 3.2% during the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company's stock worth $302,000 after buying an additional 160 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of RadNet by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company's stock worth $1,726,000 after buying an additional 193 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of RadNet by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company's stock worth $344,000 after buying an additional 296 shares during the period. Finally, Hanseatic Management Services Inc. lifted its stake in shares of RadNet by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company's stock worth $1,177,000 after buying an additional 353 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the company'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 owns 62,909 shares of the company's stock, valued at approximately $5,136,519.85. This trade represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company's stock.

RadNet Price Performance

Shares of RadNet stock traded up $2.45 during trading hours on Friday, reaching $81.61. The stock had a trading volume of 554,303 shares, compared to its average volume of 585,913. The stock's 50 day moving average is $73.52 and its 200 day moving average is $65.94. The firm has a market capitalization of $6.04 billion, a PE ratio of -1,165.69 and a beta of 1.77. RadNet, Inc. has a twelve month low of $33.44 and a twelve month 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RDNT. Jefferies Financial Group lifted their price objective on shares of RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. Barclays lifted their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Wednesday. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Truist Financial boosted their target price on shares of RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.75.

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.