RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,992 shares of the medical research company's stock after acquiring an additional 12,992 shares during the period. RadNet makes up 1.0% of Harbor Capital Advisors Inc.'s portfolio, making the stock its 4th biggest holding. Harbor Capital Advisors Inc. owned approximately 0.58% of RadNet worth $21,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDNT. Summit Investment Advisors Inc. boosted its holdings in RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after purchasing an additional 219 shares during the period. Summit Financial LLC lifted its stake in shares of RadNet by 2.4% in the fourth quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock valued at $776,000 after buying an additional 262 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of RadNet by 4.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company's stock valued at $516,000 after buying an additional 302 shares during the period. Sanctuary Advisors LLC grew its position in RadNet by 10.4% during the fourth quarter. Sanctuary Advisors LLC now owns 3,352 shares of the medical research company's stock worth $228,000 after buying an additional 316 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in RadNet by 42.2% during 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 acquiring an additional 422 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of RDNT stock traded down $1.25 during trading hours on Thursday, hitting $56.62. 241,512 shares of the company's stock were exchanged, compared to its average volume of 688,209. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -808.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock's 50-day moving average is $54.70 and its 200-day moving average is $60.92.

Insider Buying and Selling

In related news, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. Following the transaction, the chief operating officer now owns 261,959 shares in the company, valued at $13,042,938.61. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were 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 now owns 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,447 shares of company stock worth $4,113,270 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RadNet presently has a consensus rating of "Buy" and an average target price of $69.75.

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.