Invesco Ltd. Purchases 108,863 Shares of RadNet, Inc. $RDNT

Invesco Ltd. raised its stake in RadNet, Inc. (NASDAQ:RDNT) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,629,693 shares of the medical research company’s stock after acquiring an additional 108,863 shares during the quarter. Invesco Ltd. owned about 2.17% of RadNet worth $92,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in RadNet in the 1st quarter worth approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RadNet in the 2nd quarter valued at $35,000. Family Legacy Financial Solutions LLC bought a new stake in shares of RadNet during the second quarter worth $85,000. Jones Financial Companies Lllp boosted its holdings in RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in RadNet during the 2nd quarter worth about $88,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $72.13, for a total transaction of $36,065.00. Following the completion of the sale, the chief executive officer owned 53,495 shares of the company’s stock, valued at $3,858,594.35. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Stolper sold 35,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the completion of the transaction, the executive vice president owned 68,012 shares in the company, valued at approximately $5,025,406.68. This represents a 33.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,500 shares of company stock worth $6,524,469 over the last 90 days. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RDNT. Zacks Research lowered shares of RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Barclays increased their price target on shares of RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. B. Riley lifted their price target on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a report on Monday. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price target on shares of RadNet in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

RadNet Price Performance

NASDAQ:RDNT opened at $75.85 on Wednesday. The stock has a market capitalization of $5.85 billion, a PE ratio of -446.15 and a beta of 1.49. RadNet, Inc. has a 1-year low of $45.00 and a 1-year high of $85.84. The firm has a fifty day simple moving average of $78.44 and a 200 day simple moving average of $68.23. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The firm had revenue of $522.87 million during the quarter, compared to the consensus estimate of $494.19 million. During the same period last year, the business earned $0.18 EPS. The business’s revenue was up 13.4% on a year-over-year basis. On average, research analysts expect that RadNet, Inc. will post 0.56 EPS for the current fiscal 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.