Principal Financial Group Inc. Sells 7,207 Shares of RadNet, Inc. (NASDAQ:RDNT)

Principal Financial Group Inc. cut its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,253 shares of the medical research company’s stock after selling 7,207 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of RadNet worth $7,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. raised its stake in shares of RadNet by 18.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,560,450 shares of the medical research company’s stock valued at $48,213,000 after purchasing an additional 391,060 shares during the period. Sectoral Asset Management Inc. acquired a new stake in shares of RadNet in the 4th quarter valued at about $5,591,000. Goldman Sachs Group Inc. raised its stake in shares of RadNet by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 598,627 shares of the medical research company’s stock valued at $13,391,000 after purchasing an additional 214,004 shares during the period. Beck Mack & Oliver LLC raised its stake in shares of RadNet by 6.3% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,213,394 shares of the medical research company’s stock valued at $60,508,000 after purchasing an additional 191,053 shares during the period. Finally, Deutsche Bank AG increased its position in shares of RadNet by 30.0% in the fourth quarter. Deutsche Bank AG now owns 613,113 shares of the medical research company’s stock valued at $11,545,000 after acquiring an additional 141,419 shares during the last quarter. 74.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $30.13, for a total transaction of $301,300.00. Following the completion of the sale, the chief operating officer now owns 323,485 shares in the company, valued at $9,746,603.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Norman R. Hames sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $30.13, for a total transaction of $301,300.00. Following the completion of the sale, the chief operating officer now owns 323,485 shares in the company, valued at $9,746,603.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $31.11, for a total value of $622,200.00. Following the sale, the chief operating officer now owns 303,485 shares of the company’s stock, valued at approximately $9,441,418.35. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $1,234,700 over the last 90 days. 4.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $33.01 on Thursday. The business’s 50 day moving average price is $32.24 and its two-hundred day moving average price is $28.49. The company has a market cap of $2.24 billion, a PE ratio of -132.03 and a beta of 1.68. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.11. RadNet, Inc. has a twelve month low of $12.03 and a twelve month high of $35.18.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The firm had revenue of $403.70 million for the quarter, compared to the consensus estimate of $389.29 million. RadNet had a positive return on equity of 3.98% and a negative net margin of 0.84%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, analysts predict that RadNet, Inc. will post 0.46 EPS for the current year.

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.