Charles Schwab Investment Management Inc. Cuts Stake in RadNet, Inc. (NASDAQ:RDNT)

Charles Schwab Investment Management Inc. lessened its holdings in RadNet, Inc. (NASDAQ:RDNT) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 637,311 shares of the medical research company’s stock after selling 18,858 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.86% of RadNet worth $44,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of 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 buying an additional 435 shares during the period. Nisa Investment Advisors LLC increased its stake in RadNet by 774.2% in 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 increased its stake in shares of 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 buying an additional 370 shares during the period. Highline Wealth Partners LLC bought a new stake in RadNet during the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. purchased a new stake in RadNet during the 3rd quarter valued at $90,000. 77.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RDNT has been the subject of several recent analyst reports. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Truist Financial raised their price target on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.25.

Insiders Place Their Bets

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the transaction, the insider now owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on Monday, November 25th. The shares were 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. The trade was 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 owned by corporate insiders.

RadNet Trading Down 0.9 %

RDNT opened at $81.76 on Monday. 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 $32.37 and a 52 week high of $93.65. The stock has a market cap of $6.05 billion, a PE ratio of -1,167.83 and a beta of 1.75. The business has a 50 day moving average of $72.43 and a 200-day moving average of $65.13.

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.