Lisanti Capital Growth LLC Purchases 33,970 Shares of RadNet, Inc. $RDNT

Lisanti Capital Growth LLC purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,970 shares of the medical research company’s stock, valued at approximately $2,342,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SteelPeak Wealth LLC raised its stake in RadNet by 0.6% during the third quarter. SteelPeak Wealth LLC now owns 25,251 shares of the medical research company’s stock worth $1,741,000 after purchasing an additional 151 shares during the period. Arizona State Retirement System grew its stake in shares of RadNet by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 18,203 shares of the medical research company’s stock valued at $1,123,000 after buying an additional 160 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of RadNet by 1.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,303 shares of the medical research company’s stock valued at $710,000 after buying an additional 175 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of RadNet by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,392 shares of the medical research company’s stock worth $413,000 after buying an additional 207 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of RadNet by 10.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,321 shares of the medical research company’s stock worth $160,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

RDNT has been the topic of several analyst reports. Zacks Research lowered shares of RadNet from a “strong-buy” rating to a “hold” rating in a research report on Monday. Barclays increased their price objective on RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research note on Tuesday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a research note on Wednesday, November 4th. Finally, Truist Financial lifted their target price on RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.43.

RadNet Price Performance

RadNet stock opened at $78.08 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.90. RadNet, Inc. has a 52-week low of $50.82 and a 52-week high of $85.84. The firm has a market cap of $6.15 billion, a PE ratio of -269.24 and a beta of 1.42. The company’s 50 day moving average is $72.74 and its two-hundred day moving average is $65.48.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Sunday, November 8th. The medical research company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. RadNet had a positive return on equity of 3.14% and a negative net margin of 0.94%. The business had revenue of $638.26 million during the quarter, compared to analysts’ expectations of $639.97 million. During the same quarter last year, the business posted $0.20 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that RadNet, Inc. will post 0.49 EPS for the current fiscal year.

RadNet Company Profile

RadNet, Inc. operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging. The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.