RadNet, Inc. (NASDAQ:RDNT) is JB Capital Partners LP’s Largest Position

JB Capital Partners LP lifted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,504,061 shares of the medical research company’s stock after acquiring an additional 206,850 shares during the quarter. RadNet accounts for about 20.0% of JB Capital Partners LP’s investment portfolio, making the stock its biggest position. JB Capital Partners LP owned approximately 2.03% of RadNet worth $104,367,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RDNT. Allspring Global Investments Holdings LLC boosted its stake in RadNet by 103.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after acquiring an additional 515,342 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in RadNet by 130.5% in the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock worth $27,909,000 after purchasing an additional 227,713 shares in the last quarter. Cerity Partners LLC increased its holdings in RadNet by 131.4% in the third quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company’s stock valued at $26,891,000 after buying an additional 220,068 shares during the last quarter. Finally, Whittier Trust Co. acquired a new stake in RadNet during the second quarter valued at approximately $11,069,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RDNT. Truist Financial lifted their target price on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Sidoti raised shares of RadNet to a “strong-buy” rating in a report on Friday, October 4th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Jefferies Financial Group raised their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and an average target price of $74.75.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $82.49 on Friday. 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 firm has a market capitalization of $6.11 billion, a PE ratio of -1,178.26 and a beta of 1.75. RadNet, Inc. has a 1-year low of $32.15 and a 1-year high of $93.65. The business’s fifty day moving average price is $72.18 and its two-hundred day moving average price is $64.84.

Insider Transactions at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total value of $1,004,295.00. Following the completion of the transaction, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of RadNet stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

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.