T. Rowe Price Investment Management Inc. Increases Holdings in RadNet, Inc. (NASDAQ:RDNT)

T. Rowe Price Investment Management Inc. raised its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 79.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 913,691 shares of the medical research company's stock after buying an additional 404,241 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.23% of RadNet worth $63,813,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RDNT. USA Financial Formulas bought a new position in shares of RadNet in the 4th quarter worth about $30,000. Fifth Third Bancorp increased its stake in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after acquiring an additional 305 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of RadNet by 377.0% in 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of RadNet by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after acquiring an additional 422 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of RadNet in the 4th quarter worth about $105,000. Institutional investors own 77.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RDNT shares. Barclays decreased their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price target on shares of 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 shares of RadNet to a "sell" rating in a report on Wednesday, March 19th. Finally, Truist Financial dropped their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $69.75.

RadNet Stock Performance

Shares of RDNT traded down $0.16 on Thursday, reaching $52.23. The company's stock had a trading volume of 190,770 shares, compared to its average volume of 663,900. 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 has a market capitalization of $3.92 billion, a P/E ratio of -746.21 and a beta of 1.59. The stock's 50 day simple moving average is $51.09 and its two-hundred day simple moving average is $64.13. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. Research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 2,000 shares of RadNet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the transaction, the chief executive officer now owns 58,995 shares of the company's stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the transaction, the chief operating officer now directly owns 261,959 shares in the company, valued at $13,042,938.61. This represents a 1.87 % 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 over the last 90 days. 5.12% of the stock is currently owned by corporate insiders.

RadNet Company 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.