RTW Investments LP Sells 47,406 Shares of RadNet, Inc. (NASDAQ:RDNT)

RTW Investments LP decreased its position in RadNet, Inc. (NASDAQ:RDNT) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,808,604 shares of the medical research company’s stock after selling 47,406 shares during the period. RadNet accounts for 1.8% of RTW Investments LP’s portfolio, making the stock its 23rd largest position. RTW Investments LP owned 2.44% of RadNet worth $125,499,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in RadNet by 10,875.0% in 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 during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC boosted its holdings in RadNet by 74.7% during 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 bought a new position in RadNet during the third quarter worth about $68,000. Finally, Peterson Financial Group Inc. bought a new position in RadNet during the third quarter worth about $90,000. Institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RDNT shares. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays raised their target price on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Truist Financial raised their price target on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, RadNet presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.75.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the sale, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly 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 insiders.

RadNet Trading Up 0.3 %

NASDAQ RDNT opened at $80.86 on Thursday. The firm has a market cap of $5.99 billion, a P/E ratio of -1,154.98 and a beta of 1.77. 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 stock’s 50-day moving average is $73.08 and its 200-day moving average is $65.58. RadNet, Inc. has a one year low of $33.44 and a one year high of $93.65.

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.