42,110 Shares in RadNet, Inc. (NASDAQ:RDNT) Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new position in shares of RadNet, Inc. (NASDAQ:RDNT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 42,110 shares of the medical research company’s stock, valued at approximately $2,922,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd grew its holdings in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during the period. GAMMA Investing LLC boosted its holdings in shares of RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after acquiring an additional 370 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of RadNet during the third quarter worth approximately $68,000. Finally, Highland Capital Management LLC bought a new stake in shares of RadNet during the third quarter worth approximately $215,000. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 1.6 %

Shares of RDNT opened at $72.53 on Monday. RadNet, Inc. has a one year low of $28.27 and a one year high of $72.69. The company has a market cap of $5.36 billion, a P/E ratio of 518.07 and a beta of 1.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a 50 day simple moving average of $67.36 and a two-hundred day simple moving average of $62.00.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Research analysts forecast that RadNet, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Sidoti upgraded RadNet to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial lifted their price target on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RadNet has an average rating of “Moderate Buy” and an average target price of $74.75.

Insiders Place Their Bets

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.12% of the company’s stock.

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.