Nisa Investment Advisors LLC Has $300,000 Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Nisa Investment Advisors LLC increased its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 20.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,291 shares of the medical research company’s stock after acquiring an additional 716 shares during the period. Nisa Investment Advisors LLC’s holdings in RadNet were worth $300,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new position in RadNet in the 3rd quarter valued at approximately $2,922,000. Franklin Resources Inc. boosted its holdings in RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after acquiring an additional 41,381 shares during the last quarter. Pathstone Holdings LLC raised its stake in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after buying an additional 10,151 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after purchasing an additional 1,838 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of RadNet by 178.3% during the third quarter. Intech Investment Management LLC now owns 21,078 shares of the medical research company’s stock worth $1,463,000 after purchasing an additional 13,505 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDNT. Truist Financial restated a “buy” rating and issued a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays reduced their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Finally, Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

RadNet Trading Up 1.9 %

Shares of RDNT stock opened at $67.17 on Thursday. The stock’s fifty day simple moving average is $72.86 and its 200 day simple moving average is $68.83. RadNet, Inc. has a twelve month low of $35.16 and a twelve month high of $93.65. The firm has a market capitalization of $4.97 billion, a P/E ratio of -959.43 and a beta of 1.79. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Activity

In related news, EVP David Jeffrey Katz sold 12,300 shares of RadNet stock in a transaction that occurred on 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. The trade was a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ranjan Jayanathan sold 38,557 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by 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.