Brokerages expect RadNet Inc. (NASDAQ:RDNT) to announce $284.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for RadNet’s earnings, with estimates ranging from $281.19 million to $288.78 million. RadNet reported sales of $242.15 million in the same quarter last year, which indicates a positive year over year growth rate of 17.7%. The company is scheduled to announce its next quarterly earnings report on Friday, November 8th.
On average, analysts expect that RadNet will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.14 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.18 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for RadNet.
RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). RadNet had a net margin of 3.33% and a return on equity of 18.91%. The firm had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $272.36 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis.
Several research firms have weighed in on RDNT. BidaskClub cut RadNet from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 26th. Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. RadNet presently has a consensus rating of “Buy” and a consensus price target of $17.75.
In related news, insider John V. Crues sold 50,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $15.07, for a total value of $753,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Md Sherman sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $15.19, for a total transaction of $455,700.00. Following the completion of the transaction, the director now directly owns 259,083 shares of the company’s stock, valued at approximately $3,935,470.77. The disclosure for this sale can be found here. Insiders sold a total of 100,703 shares of company stock valued at $1,522,850 in the last ninety days. 6.10% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of RDNT. Aperio Group LLC bought a new position in shares of RadNet during the 2nd quarter valued at about $36,000. Oppenheimer Asset Management Inc. bought a new position in shares of RadNet during the 2nd quarter valued at about $40,000. US Bancorp DE boosted its holdings in shares of RadNet by 34.0% during the 2nd quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 844 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of RadNet by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of RadNet during the 2nd quarter valued at about $176,000. 62.27% of the stock is owned by institutional investors.
Shares of NASDAQ RDNT traded down $0.01 during midday trading on Monday, hitting $15.04. 129,859 shares of the company’s stock were exchanged, compared to its average volume of 192,509. The company’s 50 day moving average price is $14.43 and its 200 day moving average price is $13.75. RadNet has a 12 month low of $9.97 and a 12 month high of $16.40. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 5.09. The firm has a market capitalization of $754.41 million, a PE ratio of 22.79, a price-to-earnings-growth ratio of 6.08 and a beta of 0.93.
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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