Franklin Resources Inc. increased its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 387,061 shares of the medical research company's stock after buying an additional 41,381 shares during the period. Franklin Resources Inc. owned about 0.52% of RadNet worth $27,334,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its stake in RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after buying an additional 136 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of RadNet by 3.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company's stock worth $302,000 after acquiring an additional 160 shares during the period. Chartwell Investment Partners LLC lifted its position in RadNet by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company's stock valued at $1,726,000 after purchasing an additional 193 shares during the last quarter. Virtue Capital Management LLC boosted its stake in RadNet by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock valued at $1,345,000 after purchasing an additional 264 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in RadNet by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company's stock worth $344,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 77.90% of the company's stock.
RadNet Price Performance
Shares of RDNT traded down $1.03 during midday trading on Thursday, reaching $71.38. The stock had a trading volume of 687,670 shares, compared to its average volume of 547,597. 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 $5.28 billion, a P/E ratio of -1,019.57 and a beta of 1.77. The firm's 50 day moving average price is $75.09 and its 200-day moving average price is $66.96. RadNet, Inc. has a 52 week low of $33.44 and a 52 week high of $93.65.
Analysts Set New Price Targets
A number of research firms have recently weighed in on RDNT. Barclays lifted their price target on RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Jefferies Financial Group lifted their target price 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 note on Friday, November 29th. Finally, Sidoti upgraded shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RadNet currently has a consensus rating of "Moderate Buy" and an average price target of $84.75.
Read Our Latest Research Report on RDNT
Insider Buying and Selling
In related news, insider Ranjan Jayanathan sold 38,557 shares of the firm'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 completion of the sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This trade 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. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 62,909 shares in the company, 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. 5.12% of the stock is owned by corporate insiders.
About RadNet
(
Free Report)
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.
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