31,165 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by Connective Portfolio Management LLC

Connective Portfolio Management LLC acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,165 shares of the medical research company’s stock, valued at approximately $2,177,000. RadNet makes up about 3.2% of Connective Portfolio Management LLC’s holdings, making the stock its 9th biggest holding.

A number of other large investors also recently bought and sold shares of RDNT. State Street Corp boosted its holdings in shares of RadNet by 1.3% in the 3rd quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after buying an additional 30,244 shares during the period. Geode Capital Management LLC lifted its holdings in RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after acquiring an additional 11,613 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after acquiring an additional 118,501 shares during the last quarter. JB Capital Partners LP boosted its stake in RadNet by 15.9% in the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company’s stock valued at $104,367,000 after acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after purchasing an additional 119,875 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDNT. 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. Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays lifted 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 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.75.

RadNet Trading Down 6.0 %

NASDAQ:RDNT opened at $61.74 on Thursday. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -881.87 and a beta of 1.79. 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, Inc. has a 1 year low of $35.16 and a 1 year high of $93.65. The business has a fifty day moving average of $76.22 and a 200-day moving average of $68.54.

RadNet Company 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.