Northwest & Ethical Investments L.P. Has $312,000 Stock Holdings in RadNet, Inc. (NASDAQ:RDNT)

Northwest & Ethical Investments L.P. lifted its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 19.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,475 shares of the medical research company’s stock after purchasing an additional 714 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in RadNet were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares during the last quarter. Highland Capital Management LLC grew its stake in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after buying an additional 202 shares during the last quarter. Virtue Capital Management LLC grew its stake in RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after buying an additional 264 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in RadNet by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock valued at $516,000 after buying an additional 302 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after buying an additional 305 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Stock Performance

Shares of RadNet stock opened at $49.25 on Friday. The company has a 50 day moving average of $58.78 and a 200-day moving average of $67.46. RadNet, Inc. has a 1-year low of $45.82 and a 1-year high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The company has a market cap of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last issued its quarterly 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. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares of the company’s stock, valued at $13,042,938.61. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the transaction, the chief executive officer now owns 55,995 shares of the company’s stock, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $1,926,730 in the last quarter. Insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays decreased their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial reissued 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. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of RadNet to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RadNet has a consensus rating of “Buy” and a consensus target price of $76.75.

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.