Citigroup Inc. Acquires 8,125 Shares of RadNet, Inc. (NASDAQ:RDNT)

Citigroup Inc. lifted its holdings in RadNet, Inc. (NASDAQ:RDNT – Get Rating) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 110,382 shares of the medical research company’s stock after purchasing an additional 8,125 shares during the period. Citigroup Inc.’s holdings in RadNet were worth $2,078,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RDNT. Edmond DE Rothschild Holding S.A. lifted its position in RadNet by 18.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,560,450 shares of the medical research company’s stock worth $48,213,000 after buying an additional 391,060 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in RadNet by 22.0% during the third quarter. Point72 Asset Management L.P. now owns 1,811,974 shares of the medical research company’s stock worth $36,874,000 after acquiring an additional 326,274 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in RadNet by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,694,224 shares of the medical research company’s stock valued at $34,477,000 after purchasing an additional 275,742 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in RadNet by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 598,627 shares of the medical research company’s stock valued at $13,391,000 after purchasing an additional 214,004 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of RadNet by 2.0% during the 3rd quarter. BlackRock Inc. now owns 6,632,696 shares of the medical research company’s stock worth $134,977,000 after purchasing an additional 131,886 shares during the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.

RadNet Trading Down 1.0 %

Shares of NASDAQ:RDNT opened at $28.10 on Thursday. RadNet, Inc. has a 52-week low of $12.03 and a 52-week high of $29.47. The company has a market capitalization of $1.64 billion, a P/E ratio of -117.08 and a beta of 1.64. The company has a 50-day simple moving average of $26.60 and a 200 day simple moving average of $22.32. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.84 and a current ratio of 0.84.

RadNet (NASDAQ:RDNT – Get Rating) last issued its earnings results on Tuesday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). RadNet had a negative net margin of 0.90% and a positive return on equity of 3.28%. The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $371.34 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that RadNet, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RDNT. Raymond James upgraded RadNet from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Friday, March 3rd. CJS Securities initiated coverage on shares of RadNet in a research note on Friday, March 31st. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, StockNews.com initiated coverage on shares of RadNet in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

About RadNet

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RadNet, Inc provides freestanding, fixed-site outpatient diagnostic imaging services in the United States. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The firm offers magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures.