RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Barclays PLC

Barclays PLC grew its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 373.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,978 shares of the medical research company's stock after buying an additional 92,291 shares during the quarter. Barclays PLC owned 0.16% of RadNet worth $8,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RDNT. Covestor Ltd lifted its holdings in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after acquiring an additional 435 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock valued at $50,000 after purchasing an additional 751 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of RadNet in the 3rd quarter valued at $68,000. Peterson Financial Group Inc. purchased a new stake in RadNet during the third quarter worth $90,000. Finally, GAMMA Investing LLC grew its position in RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock valued at $94,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Price Performance

RadNet stock traded down $4.11 during midday trading on Wednesday, reaching $72.41. The company had a trading volume of 788,155 shares, compared to its average volume of 547,000. RadNet, Inc. has a 12-month low of $33.44 and a 12-month high of $93.65. The firm's fifty day simple moving average is $74.97 and its 200-day simple moving average is $66.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $5.36 billion, a P/E ratio of -1,034.28 and a beta of 1.77.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Jefferies Financial Group lifted their price target on RadNet from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Truist Financial increased their price target on RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, November 29th. Finally, Barclays boosted their price objective on RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. 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 company's stock. According to MarketBeat.com, RadNet has an average rating of "Moderate Buy" and a consensus price target of $84.75.

Insider Activity at RadNet

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 completion of the sale, the insider now owns 192,724 shares of the company's stock, valued at $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is owned by corporate insiders.

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.