Mutual of America Capital Management LLC Decreases Stake in RadNet, Inc. (NASDAQ:RDNT)

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Covestor Ltd boosted 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of RadNet by 74.7% in the 2nd 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 last quarter. Highline Wealth Partners LLC bought a new position in RadNet during the 3rd quarter valued at approximately $68,000. Finally, Profund Advisors LLC purchased a new position in RadNet during the second quarter valued at $207,000. Institutional investors own 77.90% of the company’s stock.

RadNet Price Performance

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

Insider Buying and Selling at RadNet

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 directly owns 192,724 shares of the company’s stock, valued at approximately $15,417,920. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Truist Financial upped their target price on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Jefferies Financial Group raised their price target on shares of RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.