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

Victory Capital Management Inc. lifted its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 303,596 shares of the medical research company's stock after purchasing an additional 12,606 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of RadNet worth $15,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RDNT. Norges Bank purchased a new stake in shares of RadNet in the fourth quarter valued at about $56,381,000. Raymond James Financial Inc. purchased a new stake in shares of RadNet in the fourth quarter valued at about $33,090,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of RadNet by 79.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock valued at $63,813,000 after purchasing an additional 404,241 shares during the period. Tidal Investments LLC lifted its position in RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock valued at $27,189,000 after buying an additional 383,989 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in RadNet by 108.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 502,612 shares of the medical research company's stock valued at $35,102,000 after buying an additional 261,711 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Stock Up 2.5%

Shares of RDNT stock traded up $1.42 during trading hours on Friday, reaching $57.41. 487,475 shares of the stock were exchanged, compared to its average volume of 651,350. The business's fifty day moving average is $57.04 and its two-hundred day moving average is $56.57. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The firm has a market capitalization of $4.31 billion, a P/E ratio of -133.51 and a beta of 1.41.

Analyst Upgrades and Downgrades

RDNT has been the topic of several research reports. Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. B. Riley initiated coverage on shares of RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 price target on the stock. Finally, Truist Financial set a $74.00 price target on shares of RadNet in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, RadNet has a consensus rating of "Buy" and a consensus price target of $69.60.

Insider Activity at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,536 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the transaction, the chief operating officer owned 249,183 shares in the company, valued at $14,950,980. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock worth $3,613,220 over the last quarter. 5.60% 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.