Mutual of America Capital Management LLC Reduces Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Mutual of America Capital Management LLC cut its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 10.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,789 shares of the medical research company’s stock after selling 1,140 shares during the period. Mutual of America Capital Management LLC’s holdings in RadNet were worth $679,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its stake in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of RadNet by 774.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC grew its holdings in shares of RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of RadNet during the 3rd quarter worth about $68,000. Finally, Profund Advisors LLC purchased a new stake in RadNet in the 2nd quarter valued at about $207,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.12% of the company’s stock.

RadNet Stock Performance

Shares of RDNT opened at $81.45 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a 52-week low of $32.01 and a 52-week high of $93.65. The company has a 50-day simple moving average of $71.32 and a 200-day simple moving average of $64.41. The company has a market capitalization of $6.03 billion, a PE ratio of -1,163.86 and a beta of 1.75.

Wall Street Analyst Weigh In

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

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.