RadNet (NASDAQ:RDNT) Issues Earnings Results

RadNet (NASDAQ:RDNT) issued its quarterly earnings data on Thursday. The medical research company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02), Fidelity Earnings reports. The company had revenue of $289.10 million for the quarter, compared to analyst estimates of $272.36 million. RadNet had a return on equity of 19.82% and a net margin of 3.33%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. RadNet updated its FY 2019 guidance to EPS.

NASDAQ RDNT traded up $0.76 on Friday, reaching $15.01. 201,404 shares of the stock traded hands, compared to its average volume of 196,176. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54. The stock’s fifty day moving average price is $14.23. The company has a market capitalization of $713.66 million, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 5.43 and a beta of 1.02. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72.

In related news, insider Michael N. Murdock sold 21,667 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $13.23, for a total value of $286,654.41. Following the completion of the sale, the insider now owns 100,575 shares in the company, valued at $1,330,607.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Norman R. Hames sold 20,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $13.09, for a total transaction of $261,800.00. Following the completion of the sale, the insider now owns 559,158 shares of the company’s stock, valued at approximately $7,319,378.22. The disclosure for this sale can be found here. Insiders sold 61,667 shares of company stock valued at $811,454 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Several research firms recently commented on RDNT. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, June 4th. Finally, BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. RadNet currently has a consensus rating of “Hold” and a consensus price target of $17.75.

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.

Featured Story: Trading Options- What is a Strangle?

Earnings History for RadNet (NASDAQ:RDNT)

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.