Citigroup Inc. Raises Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Citigroup Inc. lifted its position in RadNet, Inc. (NASDAQ:RDNT) by 23.0% in the third quarter, Holdings Channel reports. The firm owned 174,878 shares of the medical research company’s stock after buying an additional 32,673 shares during the period. Citigroup Inc.’s holdings in RadNet were worth $12,135,000 at the end of the most recent quarter.

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

RadNet Stock Up 1.3 %

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

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.