New York State Common Retirement Fund Has $11.07 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

New York State Common Retirement Fund boosted its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 92.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,551 shares of the medical research company's stock after acquiring an additional 106,953 shares during the period. New York State Common Retirement Fund owned about 0.30% of RadNet worth $11,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock valued at $82,000 after buying an additional 300 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RadNet by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after buying an additional 422 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of RadNet in the fourth quarter valued at about $105,000. Aquatic Capital Management LLC purchased a new stake in shares of RadNet in the fourth quarter valued at about $187,000. Finally, Highland Capital Management LLC raised its holdings in shares of RadNet by 24.8% in the first quarter. Highland Capital Management LLC now owns 4,128 shares of the medical research company's stock valued at $205,000 after buying an additional 821 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Price Performance

Shares of RDNT stock traded down $1.35 during midday trading on Friday, reaching $57.49. 1,352,954 shares of the company were exchanged, compared to its average volume of 689,569. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a market cap of $4.31 billion, a P/E ratio of -133.69 and a beta of 1.41. The company's 50 day moving average price is $57.29 and its two-hundred day moving average price is $56.96. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.01 and a current ratio of 2.01.

Analyst Ratings Changes

Several research analysts have weighed in on RDNT shares. Truist Financial set a $74.00 target price on shares of RadNet in a research report on Thursday, July 10th. B. Riley started coverage on shares of RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 price target on the stock. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Finally, Barclays reduced their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $69.60.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 5,536 shares of RadNet stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $332,160.00. Following the transaction, the chief operating officer directly owned 249,183 shares of the company's stock, valued at $14,950,980. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,447 shares of company stock worth $3,613,220. 5.60% 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.