RadNet (NASDAQ:RDNT) Issues Quarterly Earnings Results

RadNet (NASDAQ:RDNT) announced its earnings results on Wednesday. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.16, Briefing.com reports. RadNet had a net margin of 0.19% and a return on equity of 4.72%. The company had revenue of $431.70 million for the quarter, compared to the consensus estimate of $421.72 million. During the same period in the previous year, the business earned ($0.08) EPS. The company’s revenue was up 10.5% on a year-over-year basis. RadNet updated its FY 2024 guidance to EPS.

RadNet Stock Up 5.8 %

Shares of NASDAQ RDNT traded up $2.94 during mid-day trading on Thursday, reaching $53.57. The company had a trading volume of 937,013 shares, compared to its average volume of 527,584. RadNet has a twelve month low of $25.11 and a twelve month high of $53.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $3.96 billion, a PE ratio of -2,678.50 and a beta of 1.69. The stock’s 50 day moving average is $47.81 and its 200-day moving average is $39.19.

Wall Street Analyst Weigh In

Several analysts have issued reports on RDNT shares. Jefferies Financial Group boosted their target price on shares of RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial reissued a “buy” rating and set a $55.00 target price (up from $51.00) on shares of RadNet in a research note on Thursday, March 28th. Barclays initiated coverage on shares of RadNet in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 price target on the stock. Finally, StockNews.com raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Tuesday.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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.