State Street Corp Has $169.74 Million Stock Position in RadNet, Inc. (NASDAQ:RDNT)

State Street Corp increased its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,446,179 shares of the medical research company's stock after purchasing an additional 30,244 shares during the quarter. State Street Corp owned approximately 3.30% of RadNet worth $169,740,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, EVP David Jeffrey Katz sold 12,300 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 62,909 shares of the company's stock, valued at approximately $5,136,519.85. This represents 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 firm's stock in a transaction 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 transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

RadNet Stock Down 0.2 %

NASDAQ RDNT traded down $0.12 during trading on Friday, reaching $78.34. The company's stock had a trading volume of 298,336 shares, compared to its average volume of 546,432. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $5.80 billion, a PE ratio of -1,118.98 and a beta of 1.77. RadNet, Inc. has a 1-year low of $33.44 and a 1-year high of $93.65. The business has a 50-day moving average price of $74.56 and a 200-day moving average price of $66.56.

Wall Street Analysts Forecast Growth

RDNT has been the topic of a number of research analyst reports. Sidoti upgraded RadNet to a "strong-buy" rating in a report on Friday, October 4th. Truist Financial lifted their target price on RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, November 29th. Jefferies Financial Group increased their price target on shares of RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Finally, Barclays boosted their price objective on shares of RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $84.75.

RadNet 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.