RadNet, Inc. (NASDAQ:RDNT) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,441,449 shares of the medical research company's stock after selling 65,096 shares during the quarter. Principal Financial Group Inc. owned approximately 1.95% of RadNet worth $100,670,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Portolan Capital Management LLC boosted its holdings in shares of RadNet by 384.8% in the 3rd quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock valued at $34,095,000 after buying an additional 390,011 shares during the period. Allspring Global Investments Holdings LLC increased its position in RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after acquiring an additional 344,146 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company's stock valued at $27,909,000 after purchasing an additional 227,713 shares in the last quarter. Cerity Partners LLC raised its position in shares of RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock worth $26,891,000 after buying an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP raised its holdings in RadNet by 15.9% during the third quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock worth $104,367,000 after purchasing an additional 206,850 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

Insider Buying and Selling

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business's stock in a transaction on Monday, November 25th. The shares were 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 of the company's stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.12% of the company's stock.

RadNet Trading Down 5.1 %

Shares of RDNT traded down $3.20 during midday trading on Friday, hitting $59.47. The stock had a trading volume of 1,024,560 shares, compared to its average volume of 790,519. RadNet, Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $93.65. The business has a 50-day simple moving average of $67.38 and a two-hundred day simple moving average of $69.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.40 billion, a P/E ratio of -849.45 and a beta of 1.79.

Analyst Ratings Changes

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

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.