Principal Financial Group Inc. Increases Position in RadNet, Inc. (NASDAQ:RDNT)

Principal Financial Group Inc. boosted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,506,545 shares of the medical research company's stock after acquiring an additional 118,501 shares during the period. Principal Financial Group Inc. owned 2.04% of RadNet worth $104,539,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock valued at $50,000 after purchasing an additional 751 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in RadNet in the 3rd quarter valued at about $68,000. Peterson Financial Group Inc. acquired a new position in RadNet in the 3rd quarter valued at about $90,000. Finally, GAMMA Investing LLC boosted its holdings in RadNet by 57.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling

In related news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the sale, the insider now directly owns 192,724 shares of the company's stock, valued at $15,417,920. This represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the company's 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 sale, the executive vice president now directly owns 62,909 shares in the company, valued at approximately $5,136,519.85. The trade was a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.

RadNet Trading Up 1.8 %

Shares of RDNT stock traded up $1.32 during trading hours on Friday, hitting $72.70. The company had a trading volume of 1,215,335 shares, compared to its average volume of 550,379. The company's fifty day moving average is $75.30 and its 200 day moving average is $67.08. 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, Inc. has a fifty-two week low of $33.44 and a fifty-two week high of $93.65. The stock has a market capitalization of $5.38 billion, a PE ratio of -1,038.42 and a beta of 1.77.

Analysts Set New Price Targets

Several equities analysts have weighed in on RDNT shares. Sidoti upgraded shares of RadNet to a "strong-buy" rating in a report on Friday, October 4th. Truist Financial boosted their target price on shares of RadNet from $80.00 to $94.00 and gave the company a "buy" rating in a report on Friday, November 29th. Jefferies Financial Group upped their price objective on shares of RadNet from $82.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, Barclays upped their price objective on shares of RadNet from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.75.

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.