RadNet, Inc. (NASDAQ:RDNT) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 367,691 shares of the medical research company's stock after selling 37,756 shares during the quarter. Victory Capital Management Inc. owned about 0.50% of RadNet worth $25,514,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Covestor Ltd grew its holdings in RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. Nisa Investment Advisors LLC raised its position in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company's stock worth $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock valued at $51,000 after purchasing an additional 370 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of RadNet in the third quarter valued at approximately $68,000. Finally, SG Americas Securities LLC increased its stake in shares of RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock worth $177,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Trading Down 1.0 %

Shares of RDNT traded down $0.83 during mid-day trading on Monday, reaching $78.75. The company had a trading volume of 163,803 shares, compared to its average volume of 553,924. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of -1,128.55 and a beta of 1.75. The company has a current ratio of 2.16, a quick ratio of 2.12 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $69.29 and a 200-day simple moving average of $63.18. RadNet, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $93.65.

Insider Buying and Selling at RadNet

In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.12% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.