RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 20.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 290,990 shares of the medical research company's stock after selling 76,701 shares during the period. Victory Capital Management Inc. owned approximately 0.39% of RadNet worth $20,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after buying an additional 435 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in RadNet by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,958 shares of the medical research company's stock valued at $344,000 after acquiring an additional 296 shares during the period. Chartwell Investment Partners LLC boosted its position in 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 purchasing an additional 193 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of RadNet by 11.4% during the 3rd quarter. Natixis Advisors LLC now owns 22,530 shares of the medical research company's stock worth $1,563,000 after purchasing an additional 2,305 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new position in shares of RadNet during the 3rd quarter valued at approximately $207,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Stock Performance

NASDAQ:RDNT opened at $49.24 on Wednesday. The company has a fifty day moving average of $62.44 and a two-hundred day moving average of $68.44. RadNet, Inc. has a fifty-two week low of $42.45 and a fifty-two week high of $93.65. The stock has a market capitalization of $3.65 billion, a PE ratio of -703.33 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

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RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial reiterated a "buy" rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Finally, Barclays reduced their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, RadNet presently has a consensus rating of "Buy" and an average price target of $76.75.

Insider Buying and Selling at RadNet

In other news, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock valued at $1,426,680 over the last quarter. 5.12% of the stock is currently owned by insiders.

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.

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