National Bank of Canada FI Sells 217 Shares of RadNet, Inc. (NASDAQ:RDNT)

National Bank of Canada FI lessened its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 36.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383 shares of the medical research company’s stock after selling 217 shares during the quarter. National Bank of Canada FI’s holdings in RadNet were worth $27,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RDNT. Covestor Ltd boosted its position in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in 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 acquiring an additional 751 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of RadNet in the 3rd quarter worth $68,000. Peterson Financial Group Inc. purchased a new stake in shares of RadNet in the third quarter valued at about $90,000. Finally, GAMMA Investing LLC raised its holdings in shares of RadNet by 57.3% in the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial upped their target price on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a report on Friday, November 29th. Jefferies Financial Group lifted their price target on RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Barclays boosted their price objective on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.75.

Insider Activity

In related 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 approximately $15,417,920. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction 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 represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

RadNet Price Performance

RadNet stock opened at $72.41 on Thursday. The business’s 50 day simple moving average is $74.97 and its 200 day simple moving average is $66.92. RadNet, Inc. has a 12 month low of $33.44 and a 12 month high of $93.65. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -1,034.28 and a beta of 1.77. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

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.