Lisanti Capital Growth LLC Increases Stake in RadNet, Inc. (NASDAQ:RDNT)

Lisanti Capital Growth LLC lifted its stake in RadNet, Inc. (NASDAQ:RDNT) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,745 shares of the medical research company’s stock after buying an additional 2,635 shares during the quarter. Lisanti Capital Growth LLC’s holdings in RadNet were worth $3,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. USA Financial Formulas bought a new stake in RadNet in the 4th quarter valued at $30,000. Covestor Ltd grew its position in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of RadNet in the third quarter worth about $90,000. Finally, Smartleaf Asset Management LLC boosted its stake in RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after buying an additional 1,063 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RDNT shares. Barclays reduced their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $85.00 to $65.00 in a report on Wednesday. Truist Financial reiterated a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $76.75.

RadNet Stock Performance

NASDAQ:RDNT opened at $51.58 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock’s fifty day moving average is $63.73 and its 200 day moving average is $68.68. The firm has a market capitalization of $3.82 billion, a PE ratio of -736.75 and a beta of 1.79. RadNet, Inc. has a fifty-two week low of $42.45 and a fifty-two week high of $93.65.

RadNet (NASDAQ:RDNT) last announced its 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. On average, sell-side analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current year.

RadNet 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.