Invesco Ltd. Has $120.90 Million Stake in RadNet, Inc. (NASDAQ:RDNT)

Invesco Ltd. increased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,731,074 shares of the medical research company’s stock after purchasing an additional 70,673 shares during the period. Invesco Ltd.’s holdings in RadNet were worth $120,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of RadNet during the 4th quarter worth approximately $30,000. Fifth Third Bancorp grew its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after buying an additional 305 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after acquiring an additional 1,063 shares during the period. Twin Tree Management LP acquired a new position in RadNet in the 4th quarter valued at $106,000. Finally, IFP Advisors Inc lifted its position in shares of RadNet by 39.1% during the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock valued at $119,000 after acquiring an additional 477 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Trading Up 0.8 %

Shares of RadNet stock opened at $53.41 on Friday. The stock has a market capitalization of $3.95 billion, a PE ratio of -762.89 and a beta of 1.59. RadNet, Inc. has a 52 week low of $45.00 and a 52 week high of $93.65. The stock has a 50 day moving average price of $54.22 and a two-hundred day moving average price of $65.67. 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 (NASDAQ:RDNT) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the sale, the chief operating officer now owns 251,959 shares in the company, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,000 shares of company stock valued at $1,926,730. Corporate insiders own 5.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RDNT shares. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Jefferies Financial Group reduced their target price on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. StockNews.com raised RadNet to a “sell” rating in a report on Wednesday, March 19th. Finally, Truist Financial dropped their price objective on RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, RadNet currently has a consensus rating of “Buy” and an average price target of $69.75.

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.