State of New Jersey Common Pension Fund D Lowers Position in RadNet, Inc. (NASDAQ:RDNT)

State of New Jersey Common Pension Fund D lessened its position in RadNet, Inc. (NASDAQ:RDNT) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,289 shares of the medical research company’s stock after selling 4,157 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in RadNet were worth $1,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised 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 worth $169,740,000 after purchasing an additional 30,244 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RadNet by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company’s stock worth $107,936,000 after purchasing an additional 11,613 shares during the last quarter. Principal Financial Group Inc. raised 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 purchasing an additional 118,501 shares during the last quarter. JB Capital Partners LP raised its stake in shares of RadNet by 15.9% in 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company’s stock worth $103,532,000 after purchasing an additional 344,146 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on RDNT shares. Barclays cut their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. 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 report on Wednesday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One equities research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.50.

RadNet Trading Down 0.8 %

Shares of RDNT stock opened at $59.67 on Wednesday. RadNet, Inc. has a 1 year low of $36.47 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s 50 day simple moving average is $66.64 and its two-hundred day simple moving average is $69.22. The company has a market cap of $4.42 billion, a PE ratio of -852.31 and a beta of 1.79.

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.