Sanctuary Advisors LLC Makes New Investment in RadNet, Inc. (NASDAQ:RDNT)

Sanctuary Advisors LLC purchased a new stake in shares of RadNet, Inc. (NASDAQ:RDNT) during the third quarter, Holdings Channel.com reports. The firm purchased 3,036 shares of the medical research company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lisanti Capital Growth LLC bought a new position in RadNet during the 3rd quarter worth approximately $2,922,000. Intech Investment Management LLC bought a new stake in shares of RadNet in the second quarter worth about $446,000. Pathstone Holdings LLC raised its holdings in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company’s stock valued at $1,908,000 after acquiring an additional 10,151 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its holdings in RadNet by 153.9% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 15,470 shares of the medical research company’s stock worth $911,000 after purchasing an additional 9,376 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings in RadNet by 112.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 13,495 shares of the medical research company’s stock worth $936,000 after buying an additional 7,128 shares during the period. Institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RDNT. Sidoti raised shares of RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Barclays raised their price target on shares of RadNet from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Truist Financial upped their price objective on RadNet from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group upped their price target on RadNet from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.75.

RadNet Trading Down 2.0 %

Shares of NASDAQ:RDNT opened at $71.27 on Monday. The stock has a 50 day moving average of $75.60 and a 200 day moving average of $67.59. The company has a market cap of $5.28 billion, a PE ratio of -1,018.00 and a beta of 1.77. RadNet, Inc. has a 12-month low of $33.44 and a 12-month high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

Insider Transactions at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares of the company’s stock, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the sale, the executive vice president now directly owns 62,909 shares of the company’s stock, valued at $5,136,519.85. This represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

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.