Lisanti Capital Growth LLC Buys Shares of 42,110 RadNet, Inc. (NASDAQ:RDNT)

Lisanti Capital Growth LLC bought a new stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 42,110 shares of the medical research company's stock, valued at approximately $2,922,000. Lisanti Capital Growth LLC owned 0.06% of RadNet at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd bought a new stake in RadNet during the 1st quarter worth approximately $683,000. Janus Henderson Group PLC increased its position in RadNet by 108.6% during the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company's stock worth $3,112,000 after purchasing an additional 33,335 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of RadNet by 103.4% during the first quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company's stock valued at $12,160,000 after acquiring an additional 127,039 shares during the period. Sei Investments Co. lifted its stake in RadNet by 18.8% in the 1st quarter. Sei Investments Co. now owns 65,899 shares of the medical research company's stock worth $3,207,000 after acquiring an additional 10,430 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in RadNet in the 1st quarter worth $1,049,000. Institutional investors own 77.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Sidoti raised shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Barclays raised RadNet from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $57.00 to $79.00 in a research note on Friday, September 6th. Jefferies Financial Group upped their price target on shares of RadNet from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, Truist Financial lifted their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. One equities research 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.com, RadNet has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares of the company's stock, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.12% of the company's stock.

RadNet Trading Up 19.1 %

Shares of RDNT traded up $13.85 on Monday, reaching $86.38. 2,658,546 shares of the company's stock were exchanged, compared to its average volume of 554,128. RadNet, Inc. has a 12 month low of $28.62 and a 12 month high of $93.65. The business has a 50 day moving average price of $67.36 and a two-hundred day moving average price of $62.00. The stock has a market capitalization of $6.39 billion, a P/E ratio of 617.00 and a beta of 1.75. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business had revenue of $459.70 million during the quarter, compared to the consensus estimate of $438.53 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. RadNet's quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts anticipate that RadNet, Inc. will post 0.59 earnings per share for the current year.

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.