Public Sector Pension Investment Board Acquires 44,913 Shares of RadNet, Inc. $RDNT

Public Sector Pension Investment Board boosted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,994 shares of the medical research company’s stock after buying an additional 44,913 shares during the period. Public Sector Pension Investment Board’s holdings in RadNet were worth $20,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund raised its position in shares of RadNet by 2.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 35,580 shares of the medical research company’s stock worth $2,712,000 after acquiring an additional 711 shares in the last quarter. Rhumbline Advisers grew its stake in RadNet by 1.2% in the third quarter. Rhumbline Advisers now owns 188,026 shares of the medical research company’s stock valued at $14,329,000 after purchasing an additional 2,189 shares during the last quarter. Profund Advisors LLC bought a new position in RadNet in the third quarter worth about $245,000. Oppenheimer Asset Management Inc. lifted its position in shares of RadNet by 34.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 8,071 shares of the medical research company’s stock valued at $615,000 after buying an additional 2,067 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of RadNet by 13.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after buying an additional 160 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Insider Transactions at RadNet

In other RadNet news, CAO Mital Patel sold 25,000 shares of RadNet stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the completion of the sale, the chief accounting officer owned 205,138 shares of the company’s stock, valued at approximately $15,602,796.28. The trade was a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 50,000 shares of company stock valued at $3,902,254. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

RDNT has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. The Goldman Sachs Group raised shares of RadNet to a “buy” rating in a report on Tuesday, December 16th. B. Riley Financial upped their price target on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. UBS Group set a $92.00 price objective on RadNet in a report on Friday, January 9th. Finally, Truist Financial set a $90.00 target price on RadNet in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.33.

RadNet Trading Up 6.6%

NASDAQ RDNT opened at $69.54 on Friday. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.84. The company has a fifty day simple moving average of $72.54 and a two-hundred day simple moving average of $73.23. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.36 billion, a P/E ratio of -409.03 and a beta of 1.49.

RadNet Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.