RadNet Inc. (RDNT) Expected to Post Earnings of $0.15 Per Share

Wall Street brokerages predict that RadNet Inc. (NASDAQ:RDNT) will post $0.15 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for RadNet’s earnings. RadNet posted earnings of $0.12 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The business is scheduled to issue its next earnings report before the market opens on Friday, November 9th.

According to Zacks, analysts expect that RadNet will report full-year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.37. For the next year, analysts forecast that the firm will post earnings of $0.62 per share, with EPS estimates ranging from $0.60 to $0.63. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow RadNet.

RadNet (NASDAQ:RDNT) last posted its earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.06). The firm had revenue of $242.10 million for the quarter, compared to analyst estimates of $240.07 million. RadNet had a positive return on equity of 17.00% and a negative net margin of 0.64%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS.

A number of research firms recently commented on RDNT. BidaskClub downgraded RadNet from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $15.50.

In related news, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $14.78, for a total value of $147,800.00. Following the completion of the transaction, the insider now owns 902,001 shares of the company’s stock, valued at $13,331,574.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Norman R. Hames sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $15.59, for a total value of $218,260.00. Following the completion of the transaction, the insider now directly owns 589,000 shares of the company’s stock, valued at approximately $9,182,510. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,000 shares of company stock valued at $506,660. 7.56% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in RadNet by 21.1% in the third quarter. BlackRock Inc. now owns 3,089,617 shares of the medical research company’s stock valued at $46,499,000 after acquiring an additional 537,422 shares during the last quarter. Renaissance Technologies LLC grew its position in RadNet by 20.7% in the second quarter. Renaissance Technologies LLC now owns 2,414,812 shares of the medical research company’s stock valued at $36,222,000 after acquiring an additional 413,312 shares during the last quarter. FMR LLC grew its position in RadNet by 46.7% in the third quarter. FMR LLC now owns 2,105,744 shares of the medical research company’s stock valued at $31,692,000 after acquiring an additional 670,255 shares during the last quarter. Dimensional Fund Advisors LP grew its position in RadNet by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,560,823 shares of the medical research company’s stock valued at $23,412,000 after acquiring an additional 10,114 shares during the last quarter. Finally, Cheyne Capital Management UK LLP grew its position in RadNet by 119.7% in the third quarter. Cheyne Capital Management UK LLP now owns 771,992 shares of the medical research company’s stock valued at $11,618,000 after acquiring an additional 420,599 shares during the last quarter. 61.21% of the stock is owned by institutional investors and hedge funds.

RDNT stock traded down $1.77 during midday trading on Friday, reaching $13.40. The company had a trading volume of 790,700 shares, compared to its average volume of 253,835. The company has a market cap of $702.55 million, a PE ratio of 46.21, a price-to-earnings-growth ratio of 5.12 and a beta of 0.36. RadNet has a 1-year low of $9.50 and a 1-year high of $16.54. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 4.49.

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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