Teachers Retirement System of The State of Kentucky Lowers Holdings in RadNet, Inc. (NASDAQ:RDNT)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned 0.06% of RadNet worth $3,224,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. HighTower Advisors LLC increased its holdings in shares of RadNet by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 136 shares in the last quarter. AQR Capital Management LLC increased its holdings in RadNet by 3.2% in the second quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company’s stock valued at $302,000 after buying an additional 160 shares in the last quarter. Chartwell Investment Partners LLC raised its position in shares of RadNet by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after acquiring an additional 193 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of RadNet by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after acquiring an additional 296 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its position in shares of RadNet by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company’s stock valued at $1,177,000 after acquiring an additional 353 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Performance

Shares of RadNet stock opened at $78.34 on Friday. The business’s 50 day moving average price is $74.56 and its 200 day moving average price is $66.61. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -1,119.14 and a beta of 1.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a one year low of $33.44 and a one year high of $93.65.

Analysts Set New Price Targets

A number of research firms recently weighed in on RDNT. Barclays upped their price target on RadNet from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial boosted their price target on shares of RadNet from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Jefferies Financial Group boosted their target price 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 upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RadNet has an average rating of “Moderate Buy” and an average target price of $84.75.

Insider Transactions at RadNet

In other news, EVP David Jeffrey Katz sold 12,300 shares of the company’s stock in a transaction 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 transaction, the executive vice president now 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 SEC, which is available at this hyperlink. Also, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 192,724 shares of the company’s stock, valued at $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

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.