RadNet, Inc. (NASDAQ:RDNT) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,731,074 shares of the medical research company’s stock after purchasing an additional 70,673 shares during the quarter. Invesco Ltd. owned 2.34% of RadNet worth $120,898,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of RadNet by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company’s stock valued at $27,334,000 after acquiring an additional 41,381 shares during the last quarter. KBC Group NV raised its position in shares of RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company’s stock worth $187,000 after purchasing an additional 864 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of RadNet by 30.4% during the fourth 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 purchasing an additional 344,146 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of RadNet by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company’s stock valued at $9,229,000 after purchasing an additional 1,838 shares during the period. Finally, WCM Investment Management LLC purchased a new position in RadNet in the 4th quarter worth about $14,110,000. Institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling

In other RadNet news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the transaction, the director now directly owns 174,067 shares of the company’s stock, valued at approximately $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the transaction, the chief executive officer now owns 55,995 shares in the company, valued at $2,828,867.40. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 in the last 90 days. 5.12% of the stock is owned by insiders.

RadNet Stock Up 0.8 %

Shares of NASDAQ RDNT opened at $53.41 on Friday. RadNet, Inc. has a 52-week low of $45.00 and a 52-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. The business has a fifty day moving average of $54.22 and a two-hundred day moving average of $65.67. The stock has a market cap of $3.95 billion, a PE ratio of -762.89 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. As a group, equities research analysts expect that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on RDNT shares. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. StockNews.com raised RadNet to a “sell” rating in a research report on Wednesday, March 19th. Jefferies Financial Group decreased 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. Barclays dropped their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial decreased their price target on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, RadNet has an average rating of “Buy” and a consensus target price of $69.75.

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.