Citigroup Inc. Sells 165,835 Shares of RadNet, Inc. $RDNT

Citigroup Inc. decreased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 60.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,273 shares of the medical research company’s stock after selling 165,835 shares during the quarter. Citigroup Inc. owned approximately 0.14% of RadNet worth $8,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDNT. Vanguard Group Inc. lifted its holdings in RadNet by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after purchasing an additional 95,015 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RadNet by 2.3% in the second quarter. Geode Capital Management LLC now owns 1,640,188 shares of the medical research company’s stock valued at $93,354,000 after purchasing an additional 37,403 shares during the period. Invesco Ltd. lifted its stake in shares of RadNet by 7.2% during the 2nd quarter. Invesco Ltd. now owns 1,629,693 shares of the medical research company’s stock valued at $92,746,000 after buying an additional 108,863 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of RadNet by 79.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company’s stock valued at $79,364,000 after buying an additional 618,392 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in RadNet by 1.6% in the 2nd quarter. Hood River Capital Management LLC now owns 1,377,142 shares of the medical research company’s stock worth $78,373,000 after buying an additional 21,027 shares during the period. 77.90% of the stock is currently owned by institutional investors.

RadNet Stock Performance

Shares of RDNT opened at $69.81 on Monday. The company has a market cap of $5.39 billion, a PE ratio of -410.62 and a beta of 1.49. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $71.66 and a 200-day moving average price of $74.36. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $85.84.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RDNT shares. UBS Group set a $92.00 target price on RadNet in a research report on Friday, January 9th. Barclays boosted their price objective on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Truist Financial set a $90.00 target price on RadNet in a research note on Wednesday, December 17th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. Finally, B. Riley Financial upped their price target on RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and a consensus target price of $90.33.

RadNet 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.