Principal Financial Group Inc. Has $100.67 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

Principal Financial Group Inc. cut its position in RadNet, Inc. (NASDAQ:RDNT) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,441,449 shares of the medical research company’s stock after selling 65,096 shares during the period. Principal Financial Group Inc.’s holdings in RadNet were worth $100,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new position in RadNet in the third quarter valued at about $2,922,000. KBC Group NV raised its stake in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after acquiring an additional 864 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of RadNet by 12.0% in the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock worth $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% in the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock worth $1,908,000 after acquiring an additional 10,151 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock worth $9,229,000 after acquiring an additional 1,838 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 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 in the company, valued at $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RDNT shares. Barclays dropped their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their target price on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One equities 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 company. According to data from MarketBeat.com, RadNet has a consensus rating of “Moderate Buy” and an average target price of $75.50.

RadNet Trading Up 0.2 %

Shares of NASDAQ RDNT opened at $61.46 on Wednesday. The company’s 50 day simple moving average is $68.37 and its 200 day simple moving average is $69.08. RadNet, Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $93.65. The firm has a market capitalization of $4.55 billion, a P/E ratio of -877.87 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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.