RadNet, Inc. $RDNT Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in RadNet, Inc. (NASDAQ:RDNT) by 46.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,819 shares of the medical research company’s stock after selling 126,631 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of RadNet worth $11,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RDNT. Smartleaf Asset Management LLC lifted its position in RadNet by 13.3% in the third quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock valued at $102,000 after purchasing an additional 160 shares during the period. Jones Financial Companies Lllp increased its position in RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the period. Guidance Capital Inc. raised its stake in shares of RadNet by 2.0% during the 3rd quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after buying an additional 174 shares in the last quarter. Xponance Inc. lifted its holdings in shares of RadNet by 3.7% in the 3rd quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock valued at $409,000 after buying an additional 193 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of RadNet by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,286 shares of the medical research company’s stock valued at $479,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Up 0.6%

Shares of NASDAQ RDNT opened at $61.20 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76. The firm’s 50-day moving average is $70.63 and its two-hundred day moving average is $74.22. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.84. The company has a market capitalization of $4.75 billion, a PE ratio of -244.80 and a beta of 1.49.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.RadNet’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDNT has been the topic of a number of recent analyst reports. Barclays upped their price objective on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a research note on Thursday, December 18th. B. Riley Financial upped their target price on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, The Goldman Sachs Group raised shares of RadNet to a “buy” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.43.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.