Swiss National Bank Has $8.51 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,700 shares of the medical research company’s stock after selling 500 shares during the period. Swiss National Bank’s holdings in RadNet were worth $8,514,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RDNT. Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 103.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after purchasing an additional 515,342 shares during the period. Vanguard Group Inc. grew its stake in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of RadNet by 130.5% during the third 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 during the period. Whittier Trust Co. acquired a new stake in shares of RadNet during the second quarter worth $11,069,000. Finally, Clearbridge Investments LLC grew its stake in shares of RadNet by 33.9% during the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock worth $43,160,000 after purchasing an additional 185,523 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ranjan Jayanathan sold 38,557 shares of the business’s stock in a transaction dated 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 directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.12% of the company’s stock.

Analyst Upgrades and Downgrades

RDNT has been the topic of several recent analyst reports. Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group lifted 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. Truist Financial lifted their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.75.

RadNet Stock Performance

Shares of RadNet stock opened at $81.47 on Tuesday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -1,163.86 and a beta of 1.75. The stock’s 50-day moving average is $71.01 and its 200-day moving average is $64.21. RadNet, Inc. has a one year low of $32.01 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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.