Brokerages forecast that RadNet Inc. (NASDAQ:RDNT) will announce sales of $292.94 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for RadNet’s earnings. The highest sales estimate is $293.63 million and the lowest is $292.25 million. RadNet posted sales of $257.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 12th.
According to Zacks, analysts expect that RadNet will report full-year sales of $1.15 billion for the current financial year. For the next year, analysts expect that the firm will report sales of $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow RadNet.
RadNet (NASDAQ:RDNT) last announced its earnings results on Tuesday, November 12th. The medical research company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). The firm had revenue of $292.70 million during the quarter, compared to the consensus estimate of $283.39 million. RadNet had a return on equity of 16.52% and a net margin of 3.02%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS.
RDNT has been the topic of several recent analyst reports. BidaskClub downgraded shares of RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. ValuEngine downgraded shares of RadNet from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded shares of RadNet from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Sidoti lifted their target price on shares of RadNet from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.50.
RDNT traded down $0.85 during trading on Friday, hitting $19.45. The stock had a trading volume of 472,069 shares, compared to its average volume of 308,542. The firm has a market cap of $963.21 million, a PE ratio of 29.47, a P/E/G ratio of 12.17 and a beta of 0.96. RadNet has a 12 month low of $9.97 and a 12 month high of $20.42. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 5.01. The company has a 50 day simple moving average of $16.78 and a 200-day simple moving average of $14.72.
In other news, Director John V. Crues sold 20,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.01, for a total transaction of $360,200.00. Following the transaction, the director now owns 414,097 shares in the company, valued at approximately $7,457,886.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of RadNet by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,058,540 shares of the medical research company’s stock worth $28,386,000 after purchasing an additional 128,738 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in RadNet by 2.9% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,243,053 shares of the medical research company’s stock valued at $17,850,000 after acquiring an additional 35,444 shares during the period. Global Alpha Capital Management Ltd. increased its stake in RadNet by 31.9% in the second quarter. Global Alpha Capital Management Ltd. now owns 1,183,429 shares of the medical research company’s stock valued at $16,319,000 after acquiring an additional 286,281 shares during the period. Beck Mack & Oliver LLC increased its stake in RadNet by 54.8% in the second quarter. Beck Mack & Oliver LLC now owns 1,065,134 shares of the medical research company’s stock valued at $14,688,000 after acquiring an additional 376,981 shares during the period. Finally, State Street Corp increased its stake in RadNet by 4.1% in the third quarter. State Street Corp now owns 889,809 shares of the medical research company’s stock valued at $12,778,000 after acquiring an additional 35,430 shares during the period. Institutional investors own 66.07% of the company’s stock.
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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