Peterson Financial Group Inc. Acquires Shares of 1,299 RadNet, Inc. (NASDAQ:RDNT)

Peterson Financial Group Inc. acquired a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,299 shares of the medical research company’s stock, valued at approximately $90,000.

Several other institutional investors have also bought and sold shares of RDNT. UniSuper Management Pty Ltd bought a new stake in shares of RadNet in the 1st quarter worth about $683,000. Janus Henderson Group PLC lifted its holdings in shares of RadNet by 108.6% in the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock worth $3,112,000 after acquiring an additional 33,335 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of 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 during the last quarter. Quadrature Capital Ltd bought a new stake in shares of RadNet in the 1st quarter worth about $1,049,000. Finally, Lisanti Capital Growth LLC bought a new stake in shares of RadNet in the 3rd quarter worth about $2,922,000. Institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

RDNT stock opened at $79.58 on Friday. RadNet, Inc. has a 12 month low of $31.36 and a 12 month high of $93.65. The firm’s 50-day moving average is $69.29 and its 200 day moving average is $62.99. The company has a quick ratio of 2.12, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other RadNet 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 transaction of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares of the company’s stock, valued at approximately $3,022,480.32. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.12% of the stock is currently owned by insiders.

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.