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

Citigroup Inc. increased its position in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 23.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,878 shares of the medical research company's stock after purchasing an additional 32,673 shares during the period. Citigroup Inc. owned approximately 0.24% of RadNet worth $12,135,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of RadNet by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company's stock valued at $223,862,000 after purchasing an additional 345,822 shares in the last quarter. Principal Financial Group Inc. lifted its stake in RadNet by 8.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after acquiring an additional 118,501 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of RadNet by 11.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock valued at $78,539,000 after acquiring an additional 119,875 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of RadNet by 5.1% in the second quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company's stock worth $66,327,000 after acquiring an additional 54,583 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of RadNet by 33.9% during the second quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company's stock valued at $43,160,000 after purchasing an additional 185,523 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Stock Performance

RadNet stock traded down $0.73 during trading on Friday, reaching $81.76. The company had a trading volume of 425,097 shares, compared to its average volume of 551,174. The firm's 50-day simple moving average is $72.18 and its 200 day simple moving average is $64.84. RadNet, Inc. has a 52 week low of $32.37 and a 52 week high of $93.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -1,168.00 and a beta of 1.75.

Insider Activity at RadNet

In related news, insider Ranjan Jayanathan sold 38,557 shares of the business's 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 transaction, the insider now directly owns 192,724 shares of the company's stock, valued at approximately $15,417,920. The trade was a 16.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Jeffrey Katz sold 12,300 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $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. 5.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Truist Financial lifted their price objective on RadNet from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Friday. Barclays raised RadNet from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $57.00 to $79.00 in a report on Friday, September 6th. Finally, Sidoti upgraded RadNet to a "strong-buy" rating in a research note on Friday, October 4th. One 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.25.

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.