RadNet (NASDAQ:RDNT) Announces Quarterly Earnings Results

RadNet (NASDAQ:RDNT) released its quarterly earnings data on Monday. The medical research company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08, FiscalAI reports. The company had revenue of $638.26 million for the quarter, compared to the consensus estimate of $639.97 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.

RadNet Stock Performance

Shares of NASDAQ:RDNT opened at $76.00 on Monday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -281.47 and a beta of 1.42. RadNet has a 52 week low of $50.82 and a 52 week high of $85.84. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $72.57 and a 200 day moving average of $65.40.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of RadNet in a report on Tuesday, September 22nd. Barclays raised their price target on RadNet from $65.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Zacks Research upgraded RadNet from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Truist Financial upped their price objective on shares of RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of RadNet in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $90.00.

About RadNet

RadNet, Inc operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging.

The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.

RadNet also develops digital health and artificial intelligence solutions through its subsidiary DeepHealth, including technology intended to support imaging workflows and assist with image analysis.