Public Sector Pension Investment Board Sells 8,200 Shares of RadNet, Inc. (NASDAQ:RDNT)

Public Sector Pension Investment Board lessened its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,129 shares of the medical research company's stock after selling 8,200 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.19% of RadNet worth $9,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in RadNet by 103.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company's stock worth $59,626,000 after purchasing an additional 515,342 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of RadNet by 130.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock worth $27,909,000 after buying an additional 227,713 shares during the last quarter. Cerity Partners LLC increased its position in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock valued at $26,891,000 after buying an additional 220,068 shares in the last quarter. Whittier Trust Co. purchased a new position in RadNet during the second quarter valued at $11,069,000. Finally, Clearbridge Investments LLC raised its stake in RadNet by 33.9% during the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company's stock valued at $43,160,000 after buying an additional 185,523 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

RadNet Stock Performance

RDNT traded down $0.73 during midday trading on Friday, hitting $81.76. 425,108 shares of the company traded hands, compared to its average volume of 551,174. The company's 50-day moving average is $72.43 and its 200 day moving average is $65.02. RadNet, Inc. has a 52 week low of $32.37 and a 52 week high of $93.65. The firm has a market capitalization of $6.05 billion, a PE ratio of -1,168.00 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.

Insider Activity

In related news, EVP David Jeffrey Katz sold 12,300 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the business'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 sale, the insider now owns 192,724 shares of the company's stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company's stock.

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.