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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of RadNet in the 2nd quarter valued at about $675,768,000. JB Capital Partners LP acquired a new position in RadNet in the 2nd quarter worth about $87,821,842. Bamco Inc. NY acquired a new position in RadNet in the 2nd quarter worth about $77,765,000. Dimensional Fund Advisors LP boosted its position in RadNet by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,379,003 shares of the medical research company’s stock worth $77,074,000 after purchasing an additional 19,188 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in RadNet by 24.9% during the first quarter. Van Berkom & Associates Inc. now owns 1,028,586 shares of the medical research company’s stock worth $57,488,000 after purchasing an additional 204,858 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Stock Up 0.2%

Shares of NASDAQ RDNT opened at $78.08 on Thursday. The stock has a market cap of $6.15 billion, a PE ratio of -269.24 and a beta of 1.42. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.90. RadNet, Inc. has a 12-month low of $50.82 and a 12-month high of $85.84. The company has a 50-day moving average of $72.74 and a 200 day moving average of $65.48.

RadNet (NASDAQ:RDNT) last released its earnings results on Sunday, November 8th. The medical research company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $638.26 million for the quarter, compared to analyst estimates of $639.97 million. RadNet had a negative net margin of 0.94% and a positive return on equity of 3.14%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. As a group, sell-side analysts predict that RadNet, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on RDNT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of RadNet in a report on Wednesday, November 4th. KeyCorp boosted their price objective on RadNet from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of RadNet in a research note on Friday, July 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd. Finally, Zacks Research cut shares of RadNet from a “strong-buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.43.

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.