RadNet, Inc. (NASDAQ:RDNT) Shares Sold by RTW Investments LP

RTW Investments LP cut its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,808,604 shares of the medical research company's stock after selling 47,406 shares during the quarter. RadNet accounts for about 1.8% of RTW Investments LP's portfolio, making the stock its 23rd largest holding. RTW Investments LP owned about 2.44% of RadNet worth $125,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its position in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock valued at $50,000 after buying an additional 751 shares during the period. GAMMA Investing LLC boosted its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock worth $51,000 after buying an additional 370 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in RadNet during the third quarter worth about $68,000. Finally, Peterson Financial Group Inc. purchased a new position in RadNet during the third quarter valued at approximately $90,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 192,724 shares of the company's stock, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company's stock.

RadNet Price Performance

NASDAQ:RDNT traded down $1.70 during trading hours on Thursday, reaching $79.16. 534,661 shares of the company were exchanged, compared to its average volume of 548,844. The stock's 50-day moving average is $73.28 and its 200-day moving average is $65.67. RadNet, Inc. has a twelve month low of $33.44 and a twelve month high of $93.65. The firm has a market cap of $5.86 billion, a PE ratio of -1,130.70 and a beta of 1.77. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RDNT. Sidoti raised shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Truist Financial raised their price target on shares of RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, November 29th. Barclays upped their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their target price on RadNet from $82.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday. 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. According to MarketBeat, RadNet currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

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.