Brokerages forecast that RadNet Inc. (NASDAQ:RDNT) will report sales of $256.07 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for RadNet’s earnings, with the highest sales estimate coming in at $256.37 million and the lowest estimate coming in at $255.76 million. RadNet reported sales of $231.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The business is scheduled to report its next earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that RadNet will report full year sales of $1.07 billion for the current financial year. For the next year, analysts expect that the business will report sales of $1.09 billion, with estimates ranging from $1.06 billion to $1.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow RadNet.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, March 14th. The medical research company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.41. RadNet had a return on equity of 27.51% and a net margin of 3.31%. The company had revenue of $257.21 million for the quarter, compared to analyst estimates of $248.21 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year.
RDNT has been the topic of several research analyst reports. BidaskClub raised RadNet from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. Zacks Investment Research cut RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. ValuEngine lowered RadNet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. TheStreet raised RadNet from a “c” rating to a “b-” rating in a research note on Friday, March 15th. Finally, Raymond James lowered RadNet from a “strong-buy” rating to an “outperform” rating and increased their price target 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. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.75.
In other RadNet news, Director David L. Swartz sold 11,556 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 265,855 shares of the company’s stock, valued at $3,913,385.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Md Sherman sold 20,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 279,720 shares of the company’s stock, valued at approximately $3,885,310.80. The disclosure for this sale can be found here. Insiders sold 46,556 shares of company stock worth $672,754 over the last 90 days. 7.56% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new position in shares of RadNet in the 4th quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in RadNet by 157.8% during the 4th 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 during the period. Financial Gravity Companies Inc. acquired a new position in RadNet during the 4th quarter worth approximately $60,000. Bell & Brown Wealth Advisors LLC acquired a new position in RadNet during the 4th quarter worth approximately $102,000. Finally, Virtu Financial LLC acquired a new position in RadNet during the 4th quarter worth approximately $115,000. 63.80% of the stock is owned by hedge funds and other institutional investors.
Shares of RDNT opened at $12.71 on Friday. The company has a market cap of $648.93 million, a PE ratio of 19.26, a PEG ratio of 4.76 and a beta of 1.18. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.87 and a current ratio of 0.87. RadNet has a 1 year low of $9.97 and a 1 year high of $16.54.
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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