First Eagle Investment Management LLC Boosts Stock Position in RadNet, Inc. $RDNT

First Eagle Investment Management LLC increased its holdings in RadNet, Inc. (NASDAQ:RDNT) by 72.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,536 shares of the medical research company’s stock after purchasing an additional 37,493 shares during the period. First Eagle Investment Management LLC owned approximately 0.12% of RadNet worth $6,824,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of RadNet by 13.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,361 shares of the medical research company’s stock worth $102,000 after buying an additional 160 shares during the last quarter. Jones Financial Companies Lllp grew its position in RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after acquiring an additional 171 shares in the last quarter. Guidance Capital Inc. grew its position in RadNet by 2.0% in the third quarter. Guidance Capital Inc. now owns 9,089 shares of the medical research company’s stock worth $758,000 after acquiring an additional 174 shares in the last quarter. Xponance Inc. increased its stake in RadNet by 3.7% during the third quarter. Xponance Inc. now owns 5,368 shares of the medical research company’s stock worth $409,000 after acquiring an additional 193 shares during the last quarter. Finally, Zions Bancorporation National Association UT raised its position in RadNet by 0.6% during the second quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company’s stock valued at $1,996,000 after purchasing an additional 204 shares during the period. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Down 1.7%

NASDAQ RDNT opened at $71.33 on Thursday. The stock has a market cap of $5.54 billion, a PE ratio of -285.32 and a beta of 1.49. RadNet, Inc. has a 12 month low of $45.00 and a 12 month high of $85.84. The company’s 50-day moving average price is $71.64 and its 200-day moving average price is $74.42. The company has a current ratio of 1.76, a quick ratio of 1.87 and a debt-to-equity ratio of 0.79.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $547.71 million during the quarter, compared to analysts’ expectations of $515.67 million. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. Equities research analysts forecast that RadNet, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RDNT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Truist Financial set a $90.00 price objective on shares of RadNet in a research note on Wednesday, December 17th. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a research report on Tuesday, December 16th. UBS Group set a $92.00 target price on shares of RadNet in a report on Friday, January 9th. Finally, KeyCorp upgraded shares of RadNet to a “strong-buy” rating in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.43.

About RadNet

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.