Pathstone Holdings LLC Has $1.91 Million Stake in RadNet, Inc. (NASDAQ:RDNT)

Pathstone Holdings LLC grew its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 58.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,503 shares of the medical research company's stock after purchasing an additional 10,151 shares during the period. Pathstone Holdings LLC's holdings in RadNet were worth $1,908,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of RadNet by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company's stock valued at $223,862,000 after buying an additional 345,822 shares in the last quarter. Principal Financial Group Inc. raised its position in RadNet by 8.5% during the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock worth $104,539,000 after acquiring an additional 118,501 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock worth $78,539,000 after buying an additional 119,875 shares during the period. Hood River Capital Management LLC raised its stake in shares of RadNet by 5.1% in the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company's stock valued at $66,327,000 after acquiring an additional 54,583 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of RadNet by 33.9% during the 2nd quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company's stock worth $43,160,000 after acquiring an additional 185,523 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling

In other 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is currently owned by corporate insiders.

RadNet Price Performance

Shares of NASDAQ:RDNT traded up $1.39 on Wednesday, reaching $82.84. The company's stock had a trading volume of 240,452 shares, compared to its average volume of 550,928. RadNet, Inc. has a 52-week low of $32.15 and a 52-week 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 company has a market cap of $6.13 billion, a P/E ratio of -1,163.41 and a beta of 1.75. The company has a 50-day simple moving average of $71.61 and a 200 day simple moving average of $64.59.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RDNT shares. Truist Financial raised their price objective on 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 raised their target price on shares of RadNet from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Sidoti upgraded RadNet to a "strong-buy" rating in a report on Friday, October 4th. Finally, Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. One 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's stock. According to data from MarketBeat.com, the company 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.