Jennison Associates LLC trimmed its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 32.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,550 shares of the medical research company's stock after selling 6,930 shares during the quarter. Jennison Associates LLC's holdings in RadNet were worth $1,016,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of RadNet by 1.8% during the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock worth $545,000 after buying an additional 136 shares in the last quarter. AQR Capital Management LLC grew its holdings in RadNet by 3.2% during 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 in the last quarter. Chartwell Investment Partners LLC increased its position in shares of 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. Highland Capital Management LLC increased its position in shares of RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after purchasing an additional 202 shares during the last quarter. Finally, Virtue Capital Management LLC raised its holdings in shares of RadNet by 1.4% in 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 in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.
Insider Activity
In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction 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 directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the company'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 value of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares of the company's stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on RDNT shares. Truist Financial reissued a "buy" rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Finally, Barclays decreased their target price on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, RadNet currently has a consensus rating of "Moderate Buy" and an average price target of $75.50.
Check Out Our Latest Analysis on RadNet
RadNet Stock Performance
NASDAQ RDNT traded down $0.42 during trading hours on Monday, hitting $62.35. The company had a trading volume of 426,800 shares, compared to its average volume of 833,535. The business has a 50 day moving average of $70.62 and a 200-day moving average of $69.02. The company has a market cap of $4.62 billion, a PE ratio of -890.59 and a beta of 1.79. RadNet, Inc. has a 1-year low of $36.47 and a 1-year 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.
RadNet Profile
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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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