Equities analysts expect that RadNet Inc. (NASDAQ:RDNT) will announce $256.07 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for RadNet’s earnings. The highest sales estimate is $256.37 million and the lowest is $255.76 million. RadNet reported sales of $231.39 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The company is expected to announce its next quarterly earnings results on Wednesday, May 8th.
On average, analysts expect that RadNet will report full-year sales of $1.07 billion for the current financial year. For the next year, analysts anticipate that the business will post sales of $1.09 billion, with estimates ranging from $1.06 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow RadNet.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.41. The company had revenue of $257.21 million for the quarter, compared to analyst estimates of $248.21 million. RadNet had a net margin of 3.31% and a return on equity of 27.51%. RadNet’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) EPS.
Several research firms have recently weighed in on RDNT. Raymond James lowered shares of RadNet from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $16.00 to $17.50 in a research note on Friday, March 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Saturday, March 16th. BidaskClub raised shares of RadNet from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. ValuEngine downgraded shares of RadNet from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.75.
RadNet stock opened at $12.80 on Friday. The stock has a market cap of $640.91 million, a PE ratio of 19.39, a PEG ratio of 3.58 and a beta of 1.20. RadNet has a fifty-two week low of $9.97 and a fifty-two week high of $16.54. The company has a current ratio of 0.87, a quick ratio of 1.12 and a debt-to-equity ratio of 3.16.
In related news, Director Michael L. Md Sherman sold 20,000 shares of RadNet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.89, for a total transaction of $277,800.00. Following the completion of the sale, the director now owns 279,720 shares of the company’s stock, valued at approximately $3,885,310.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Stolper sold 15,000 shares of RadNet stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $14.99, for a total transaction of $224,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,556 shares of company stock valued at $672,754 in the last ninety days. 7.56% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in RDNT. Geode Capital Management LLC increased its position in RadNet by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 791,819 shares of the medical research company’s stock worth $8,052,000 after purchasing an additional 60,757 shares in the last quarter. Dimensional Fund Advisors LP increased its position in RadNet by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,581,140 shares of the medical research company’s stock worth $16,081,000 after purchasing an additional 12,736 shares in the last quarter. Bell & Brown Wealth Advisors LLC acquired a new position in RadNet during the 4th quarter worth approximately $102,000. Moab Capital Partners LLC increased its position in RadNet by 46.0% during the 4th quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock worth $34,299,000 after purchasing an additional 1,062,592 shares in the last quarter. Finally, Millennium Management LLC increased its position in RadNet by 378.7% during the 4th quarter. Millennium Management LLC now owns 82,339 shares of the medical research company’s stock worth $837,000 after purchasing an additional 65,138 shares in the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.
RadNet Company Profile
RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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.
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