RadNet, Inc. (NASDAQ:RDNT) Stock Holdings Trimmed by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,043 shares of the medical research company's stock after selling 16,500 shares during the period. First Eagle Investment Management LLC owned about 0.11% of RadNet worth $5,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in RadNet in the 4th quarter worth $33,090,000. Portolan Capital Management LLC lifted its stake in shares of RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company's stock worth $34,095,000 after acquiring an additional 390,011 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after acquiring an additional 344,146 shares in the last quarter. Cerity Partners LLC grew its stake in RadNet by 131.4% during the 3rd quarter. Cerity Partners LLC now owns 387,536 shares of the medical research company's stock valued at $26,891,000 after purchasing an additional 220,068 shares in the last quarter. Finally, JB Capital Partners LP grew its stake in RadNet by 15.9% during the 3rd quarter. JB Capital Partners LP now owns 1,504,061 shares of the medical research company's stock valued at $104,367,000 after purchasing an additional 206,850 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at RadNet

In related news, COO Norman R. Hames sold 5,000 shares of RadNet stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now directly owns 174,067 shares of the company's stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,926,730 in the last 90 days. 5.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on RDNT shares. StockNews.com upgraded RadNet to a "sell" rating in a research note on Wednesday. Truist Financial reissued a "buy" rating and set a $88.00 price objective (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays reduced their price target on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 22nd. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $76.75.

RadNet Stock Performance

Shares of NASDAQ RDNT traded down $1.00 during midday trading on Thursday, hitting $49.71. The company's stock had a trading volume of 1,147,472 shares, compared to its average volume of 617,311. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a 1-year low of $45.16 and a 1-year high of $93.65. The firm's fifty day moving average price is $59.62 and its 200-day moving average price is $67.70. The firm has a market cap of $3.68 billion, a P/E ratio of -710.04 and a beta of 1.85.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. On average, sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current fiscal year.

RadNet 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.