JPMorgan Chase & Co. Buys 1,838 Shares of RadNet, Inc. (NASDAQ:RDNT)

JPMorgan Chase & Co. lifted its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,997 shares of the medical research company’s stock after purchasing an additional 1,838 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of RadNet worth $9,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDNT. Covestor Ltd increased its stake in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Highline Wealth Partners LLC bought a new position in RadNet in the 3rd quarter worth about $68,000. Peterson Financial Group Inc. bought a new position in RadNet in the 3rd quarter worth about $90,000. GAMMA Investing LLC increased its stake in RadNet by 57.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company’s stock worth $94,000 after acquiring an additional 496 shares during the last quarter. Finally, Profund Advisors LLC bought a new position in RadNet in the 2nd quarter worth about $207,000. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

RadNet Trading Down 3.2 %

Shares of RDNT stock opened at $66.59 on Tuesday. The stock has a market capitalization of $4.93 billion, a PE ratio of -951.15 and a beta of 1.79. RadNet, Inc. has a 1-year low of $35.16 and a 1-year high of $93.65. The business has a 50-day moving average of $76.43 and a 200 day moving average of $68.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Activity at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 $15,417,920. This represents a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

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.