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

Victory Capital Management Inc. decreased its stake in RadNet, Inc. (NASDAQ:RDNT) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 367,691 shares of the medical research company’s stock after selling 37,756 shares during the period. Victory Capital Management Inc.’s holdings in RadNet were worth $25,514,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of RadNet by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after purchasing an additional 345,822 shares in the last quarter. Principal Financial Group Inc. boosted its position in RadNet by 8.5% in the third quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company’s stock valued at $104,539,000 after buying an additional 118,501 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in RadNet by 11.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company’s stock worth $78,539,000 after buying an additional 119,875 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of RadNet by 5.1% during the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company’s stock worth $66,327,000 after buying an additional 54,583 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of RadNet by 33.9% in the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company’s stock valued at $43,160,000 after acquiring an additional 185,523 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

RadNet Trading Down 1.8 %

RDNT stock opened at $79.58 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet, Inc. has a twelve month low of $31.36 and a twelve month high of $93.65. The company has a market cap of $5.89 billion, a P/E ratio of -1,136.69 and a beta of 1.75. The business has a fifty day moving average of $69.29 and a 200-day moving average of $63.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RDNT shares. Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group raised their target price on RadNet from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Sidoti raised RadNet to a “strong-buy” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on shares of RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report 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 company’s stock. Based on data from MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Insider Buying and Selling

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the transaction, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. This represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.