First Eagle Investment Management LLC Raises Holdings in RadNet, Inc. $RDNT

First Eagle Investment Management LLC increased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 72.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,536 shares of the medical research company’s stock after buying an additional 37,493 shares during the period. First Eagle Investment Management LLC’s holdings in RadNet were worth $6,824,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in RadNet by 5.4% during the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of RadNet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after purchasing an additional 1,699 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in RadNet by 563.4% during the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after buying an additional 1,448 shares during the period. United Services Automobile Association acquired a new position in shares of RadNet in the 1st quarter valued at $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RadNet by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after purchasing an additional 8,762 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Trading Down 1.7%

Shares of RDNT stock opened at $71.33 on Thursday. RadNet, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The company has a 50 day moving average price of $71.64 and a 200 day moving average price of $74.42. The stock has a market capitalization of $5.54 billion, a P/E ratio of -285.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.87 and a current ratio of 1.76.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 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 revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. Equities research analysts predict that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. B. Riley Financial raised their price objective on RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. The Goldman Sachs Group upgraded shares of RadNet to a “buy” rating in a research report on Tuesday, December 16th. Raymond James Financial restated a “strong-buy” rating on shares of RadNet in a report on Thursday, December 18th. KeyCorp raised shares of RadNet to a “strong-buy” rating in a research report on Friday, January 9th. Finally, Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.