Covestor Ltd Purchases 435 Shares of RadNet, Inc. (NASDAQ:RDNT)

Covestor Ltd grew its position in RadNet, Inc. (NASDAQ:RDNT) by 10,875.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 439 shares of the medical research company’s stock after acquiring an additional 435 shares during the period. Covestor Ltd’s holdings in RadNet were worth $30,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RDNT. Principal Financial Group Inc. increased 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 valued at $104,539,000 after purchasing an additional 118,501 shares during the period. Hanseatic Management Services Inc. increased its holdings in RadNet by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 20,851 shares of the medical research company’s stock valued at $1,447,000 after purchasing an additional 883 shares during the period. Emerald Advisers LLC increased its holdings in RadNet by 3.3% in the third quarter. Emerald Advisers LLC now owns 669,250 shares of the medical research company’s stock valued at $46,439,000 after purchasing an additional 21,318 shares during the period. Harbor Capital Advisors Inc. increased its holdings in RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after purchasing an additional 227,713 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in RadNet in the third quarter valued at $68,000. 77.90% of the stock is currently owned by institutional investors.

Insider Activity at RadNet

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial increased their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Jefferies Financial Group increased their price target on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet Stock Performance

Shares of RadNet stock opened at $79.58 on Friday. RadNet, Inc. has a one year low of $31.36 and a one year high of $93.65. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of -1,136.69 and a beta of 1.75. The business has a 50-day simple moving average of $68.94 and a 200 day simple moving average of $62.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.12.

About RadNet

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.