RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in RadNet, Inc. (NASDAQ:RDNT) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,455 shares of the medical research company’s stock after selling 5,747 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in RadNet were worth $3,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of RadNet by 1.3% in the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company’s stock valued at $169,740,000 after purchasing an additional 30,244 shares during the period. Geode Capital Management LLC boosted its position in RadNet by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock valued at $107,936,000 after buying an additional 11,613 shares during the period. Principal Financial Group Inc. grew its stake in shares of RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock worth $104,539,000 after acquiring an additional 118,501 shares in the last quarter. JB Capital Partners LP increased its position in shares of 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 acquiring an additional 206,850 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock valued at $78,539,000 after acquiring an additional 119,875 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $78.34 on Friday. The stock’s 50-day simple moving average is $74.56 and its 200-day simple moving average is $66.61. The firm has a market capitalization of $5.80 billion, a PE ratio of -1,119.14 and a beta of 1.77. RadNet, Inc. has a fifty-two week low of $33.44 and a fifty-two week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

Analysts Set New Price Targets

RDNT has been the subject of several analyst reports. Truist Financial boosted their target price on RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Barclays upped their target price on shares of RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price target on shares of RadNet from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RadNet has an average rating of “Moderate Buy” and a consensus target price of $84.75.

Insider Buying and Selling at RadNet

In related news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.

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.