D.A. Davidson & CO. Purchases New Shares in RadNet, Inc. (NASDAQ:RDNT)

D.A. Davidson & CO. purchased a new stake in RadNet, Inc. (NASDAQ:RDNT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,000 shares of the medical research company’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in RDNT. Covestor Ltd increased its position in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC increased its position in RadNet by 774.2% in the second 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 increased its position in RadNet by 74.7% in the second 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 RadNet in the third quarter worth about $68,000. Finally, Peterson Financial Group Inc. acquired a new stake in RadNet in the third quarter worth about $90,000. 77.90% of the stock is owned by institutional investors.

Insider Transactions at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the 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 completion of the transaction, the insider now directly owns 192,724 shares in the company, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the transaction, the executive vice president now owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $80.86 on Thursday. 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 fifty day moving average price is $73.08 and its two-hundred day moving average price is $65.58. RadNet, Inc. has a one year low of $33.44 and a one year high of $93.65. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of -1,154.98 and a beta of 1.77.

Analyst Upgrades and Downgrades

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

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.