Equities analysts expect RadNet Inc. (NASDAQ:RDNT) to post earnings of ($0.08) per share for the current quarter, according to Zacks. Two analysts have provided estimates for RadNet’s earnings. RadNet posted earnings per share of ($0.04) in the same quarter last year, which would suggest a negative year over year growth rate of 100%. The company is expected to report its next earnings report on Wednesday, May 8th.
According to Zacks, analysts expect that RadNet will report full-year earnings of $0.34 per share for the current year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.55 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for RadNet.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.41. The business had revenue of $257.21 million for the quarter, compared to the consensus estimate of $248.21 million. RadNet had a net margin of 3.31% and a return on equity of 27.51%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) EPS.
Several analysts recently commented on RDNT shares. BidaskClub cut RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Zacks Investment Research cut RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a research report on Friday, March 15th. ValuEngine cut RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Raymond James cut RadNet from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $17.50 in a research report on Friday, March 15th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.75.
Shares of RadNet stock opened at $12.71 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 3.16. The firm has a market cap of $648.93 million, a price-to-earnings ratio of 19.26, a P/E/G ratio of 4.76 and a beta of 1.18. RadNet has a 12-month low of $9.97 and a 12-month high of $16.54.
In other RadNet news, Director David L. Swartz sold 11,556 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $14.72, for a total transaction of $170,104.32. Following the transaction, the director now owns 265,855 shares of the company’s stock, valued at $3,913,385.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Stolper sold 15,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $14.99, for a total value of $224,850.00. The disclosure for this sale can be found here. Insiders have sold 46,556 shares of company stock worth $672,754 in the last three months. 7.56% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC increased its stake in RadNet by 1.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 83,365 shares of the medical research company’s stock valued at $1,255,000 after purchasing an additional 1,500 shares in the last quarter. Northern Trust Corp boosted its position in shares of RadNet by 0.3% during the fourth quarter. Northern Trust Corp now owns 518,399 shares of the medical research company’s stock worth $5,272,000 after purchasing an additional 1,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of RadNet by 157.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock worth $37,000 after purchasing an additional 2,218 shares in the last quarter. Adalta Capital Management LLC boosted its position in shares of RadNet by 8.0% during the fourth quarter. Adalta Capital Management LLC now owns 32,581 shares of the medical research company’s stock worth $331,000 after purchasing an additional 2,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of RadNet during the fourth quarter worth $36,000. 63.80% of the stock is currently owned by institutional investors.
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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