Victory Capital Management Inc. Has $25.51 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

Victory Capital Management Inc. trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,691 shares of the medical research company’s stock after selling 37,756 shares during the quarter. Victory Capital Management Inc. owned approximately 0.50% of RadNet worth $25,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in RDNT. Clearbridge Investments LLC bought a new position in RadNet during the first quarter valued at about $26,617,000. Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 103.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock valued at $59,626,000 after acquiring an additional 515,342 shares in the last quarter. 8 Knots Management LLC acquired a new stake in RadNet in the 1st quarter worth approximately $20,273,000. Vanguard Group Inc. boosted its position in RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock worth $223,862,000 after purchasing an additional 345,822 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in RadNet by 130.5% during the third quarter. Harbor Capital Advisors Inc. now owns 402,205 shares of the medical research company’s stock valued at $27,909,000 after purchasing an additional 227,713 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value 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. This trade represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.12% of the company’s stock.

Analyst Ratings Changes

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

RadNet Stock Down 1.8 %

Shares of RDNT opened at $79.58 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.12 and a current ratio of 2.16. The company has a 50-day simple moving average of $69.29 and a 200-day simple moving average of $63.09. RadNet, Inc. has a 52 week low of $31.36 and a 52 week high of $93.65. The firm has a market capitalization of $5.89 billion, a P/E ratio of -1,136.69 and a beta of 1.75.

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.