RadNet, Inc. (NASDAQ:RDNT) Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 518,747 shares of the medical research company's stock after selling 90,421 shares during the quarter. Wellington Management Group LLP owned approximately 0.70% of RadNet worth $35,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RDNT. Allspring Global Investments Holdings LLC raised its position in shares of RadNet by 103.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company's stock valued at $59,626,000 after purchasing an additional 515,342 shares in the last quarter. Portolan Capital Management LLC grew its position in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock valued at $34,095,000 after purchasing an additional 390,011 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in RadNet by 130.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock worth $27,909,000 after purchasing an additional 227,713 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock valued at $26,891,000 after purchasing an additional 220,068 shares during the last quarter. Finally, JB Capital Partners LP raised its holdings in RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock worth $104,367,000 after buying an additional 206,850 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Performance

RadNet stock traded down $0.53 on Friday, reaching $77.93. The company's stock had a trading volume of 72,688 shares, compared to its average volume of 545,492. 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 business's fifty day moving average price is $74.37 and its 200 day moving average price is $66.42. RadNet, Inc. has a twelve month low of $33.44 and a twelve month high of $93.65.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RDNT shares. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a report on Friday, October 4th. Truist Financial raised their price target on RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, November 29th. Barclays increased their price objective on shares of RadNet from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their price objective on shares of RadNet from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. 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's stock. Based on data from MarketBeat, RadNet currently has an average rating of "Moderate Buy" and a consensus price target of $84.75.

Insider Activity

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 192,724 shares of the company's stock, valued at $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the company'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 value of $1,004,295.00. Following the completion of the sale, the executive vice president now owns 62,909 shares in the company, valued at approximately $5,136,519.85. This 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 company insiders.

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.