Peterson Financial Group Inc. Invests $90,000 in RadNet, Inc. (NASDAQ:RDNT)

Peterson Financial Group Inc. acquired a new position in RadNet, Inc. (NASDAQ:RDNT) during the third quarter, HoldingsChannel.com reports. The fund acquired 1,299 shares of the medical research company’s stock, valued at approximately $90,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sawgrass Asset Management LLC purchased a new position in shares of RadNet in the 3rd quarter worth approximately $207,000. Natixis Advisors LLC grew its position in shares of RadNet by 11.4% in the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company’s stock worth $1,563,000 after buying an additional 2,305 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of RadNet in the 3rd quarter worth approximately $2,922,000. Chartwell Investment Partners LLC grew its position in shares of RadNet by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 24,883 shares of the medical research company’s stock worth $1,726,000 after buying an additional 193 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in RadNet by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company’s stock worth $344,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Down 1.8 %

Shares of NASDAQ RDNT opened at $79.58 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16. RadNet, Inc. has a 12 month low of $31.36 and a 12 month high of $93.65. The company has a 50 day simple moving average of $69.29 and a two-hundred day simple moving average of $62.99.

Analyst Upgrades and Downgrades

RDNT has been the subject of a number of recent analyst reports. Sidoti upgraded shares of RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group lifted their target price 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. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Finally, Truist Financial lifted their target price on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RadNet currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

Insider Activity

In other news, EVP Michael N. Murdock sold 15,000 shares of RadNet stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.12% of the company’s stock.

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.