Brokerages expect that RadNet Inc. (NASDAQ:RDNT) will report ($0.02) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for RadNet’s earnings. The lowest EPS estimate is ($0.08) and the highest is $0.04. RadNet reported earnings per share of ($0.04) in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is expected to announce its next earnings report on Wednesday, May 8th.
On average, analysts expect that RadNet will report full-year earnings of $0.49 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.63. For the next year, analysts forecast that the firm will report earnings of $0.55 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that cover RadNet.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, March 14th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) earnings per share.
A number of equities analysts have recently commented on RDNT shares. TheStreet upgraded shares of RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. Zacks Investment Research upgraded shares of RadNet from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, March 16th. BidaskClub upgraded shares of RadNet from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. ValuEngine lowered shares of RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Raymond James lowered shares of RadNet from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $17.50 in a report on Friday, March 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. RadNet has a consensus rating of “Buy” and an average price target of $17.75.
Shares of NASDAQ:RDNT traded down $0.77 during mid-day trading on Thursday, reaching $12.80. 385,296 shares of the company’s stock were exchanged, compared to its average volume of 351,505. The firm has a market cap of $640.91 million, a PE ratio of 19.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.20. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.12 and a current ratio of 0.87. RadNet has a twelve month low of $9.97 and a twelve month high of $16.54.
In related news, Director David L. Swartz sold 11,556 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $14.72, for a total value of $170,104.32. Following the transaction, the director now owns 265,855 shares in the company, valued at $3,913,385.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark Stolper sold 15,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were 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. In the last 90 days, insiders sold 46,556 shares of company stock worth $672,754. 7.56% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new stake in RadNet in the 4th quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of RadNet by 157.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 2,218 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of RadNet in the 4th quarter valued at approximately $60,000. Bell & Brown Wealth Advisors LLC purchased a new position in shares of RadNet in the 4th quarter valued at approximately $102,000. Finally, Virtu Financial LLC purchased a new position in shares of RadNet in the 4th quarter valued at approximately $115,000. Institutional investors and hedge funds own 63.37% of the company’s stock.
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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