First Eagle Investment Management LLC Sells 5,000 Shares of RadNet, Inc. (NASDAQ:RDNT)

First Eagle Investment Management LLC cut its stake in RadNet, Inc. (NASDAQ:RDNT) by 5.1% in the second quarter, Holdings Channel reports. The institutional investor owned 92,443 shares of the medical research company’s stock after selling 5,000 shares during the period. First Eagle Investment Management LLC’s holdings in RadNet were worth $5,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of RadNet by 774.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during 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 purchasing an additional 370 shares during the last quarter. Assetmark Inc. lifted its stake in RadNet by 35.2% in the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock worth $111,000 after purchasing an additional 829 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of RadNet by 8.7% during the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of RadNet during the first quarter valued at $207,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Trading Down 0.4 %

NASDAQ:RDNT opened at $69.34 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a 50-day simple moving average of $63.03 and a 200-day simple moving average of $56.72. RadNet, Inc. has a one year low of $25.11 and a one year high of $70.37. The firm has a market cap of $5.12 billion, a P/E ratio of 231.13 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to analysts’ expectations of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Equities analysts anticipate that RadNet, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Jefferies Financial Group raised 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. Finally, Barclays upgraded RadNet from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $57.00 to $79.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.25.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now directly owns 48,144 shares in the company, valued at approximately $3,022,480.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.12% of the stock is owned by insiders.

RadNet Company 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.