Royce & Associates LP Has $7.50 Million Stake in RadNet, Inc. (NASDAQ:RDNT)

Royce & Associates LP cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 37.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,039 shares of the medical research company's stock after selling 63,560 shares during the period. Royce & Associates LP owned 0.15% of RadNet worth $7,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd increased its stake in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in 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. GAMMA Investing LLC increased its position in shares of RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Highline Wealth Partners LLC bought a new position in RadNet during the third quarter worth $68,000. Finally, SG Americas Securities LLC boosted its stake in RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock valued at $177,000 after acquiring an additional 291 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of RadNet stock traded down $0.49 on Monday, hitting $79.09. The company had a trading volume of 377,353 shares, compared to its average volume of 554,882. RadNet, Inc. has a 52 week low of $31.55 and a 52 week high of $93.65. The company has a market cap of $5.86 billion, a PE ratio of -1,128.55 and a beta of 1.75. The business has a 50-day simple moving average of $69.29 and a 200-day simple moving average of $63.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.12.

Insider Activity

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now directly owns 48,144 shares in the company, valued at approximately $3,022,480.32. This trade represents a 23.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RDNT. Truist Financial boosted their price target on shares of RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Sidoti raised shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Barclays upgraded shares of RadNet from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Jefferies Financial Group increased their price objective on RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, RadNet presently has an average rating of "Moderate Buy" and a consensus target price of $74.75.

About RadNet

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.