Cerity Partners LLC Boosts Position in RadNet, Inc. (NASDAQ:RDNT)

Cerity Partners LLC boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 131.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,536 shares of the medical research company’s stock after buying an additional 220,068 shares during the quarter. Cerity Partners LLC owned approximately 0.52% of RadNet worth $26,891,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RDNT. Covestor Ltd raised its stake in shares of 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 acquiring an additional 435 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 raised its position in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of RadNet in the 3rd quarter worth $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet during the 3rd quarter worth $90,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Performance

RDNT stock opened at $82.04 on Monday. RadNet, Inc. has a one year low of $32.01 and a one year high of $93.65. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -1,171.83 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50-day simple moving average of $71.01 and a two-hundred day simple moving average of $64.12.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial lifted their price objective on RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. 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 MarketBeat.com, RadNet currently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the transaction, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.12% of the stock is currently owned by corporate insiders.

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.