Citigroup Inc. Acquires 32,673 Shares of RadNet, Inc. (NASDAQ:RDNT)

Citigroup Inc. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT) by 23.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,878 shares of the medical research company’s stock after acquiring an additional 32,673 shares during the period. Citigroup Inc. owned 0.24% of RadNet worth $12,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its stake in RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. Nisa Investment Advisors LLC grew its stake in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC increased its holdings in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in RadNet in the 3rd quarter worth $68,000. Finally, Peterson Financial Group Inc. bought a new position in shares of RadNet during the 3rd quarter valued at about $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at RadNet

In other RadNet news, EVP David Jeffrey Katz sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the transaction, the executive vice president now owns 62,909 shares in the company, valued at $5,136,519.85. The trade was a 16.35 % 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, insider Ranjan Jayanathan sold 38,557 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares in the company, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RDNT. Sidoti upgraded RadNet to a “strong-buy” rating in a research report on Friday, October 4th. Jefferies Financial Group upped their price objective on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays raised shares of RadNet from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Truist Financial upped their price target on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.75.

RadNet Stock Performance

NASDAQ RDNT opened at $82.49 on Friday. The business’s 50 day moving average price is $72.18 and its 200-day moving average price is $64.84. RadNet, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $93.65. The company has a market cap of $6.11 billion, a P/E ratio of -1,178.26 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

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.