Zacks: Analysts Anticipate RadNet, Inc. (NASDAQ:RDNT) Will Post Quarterly Sales of $342.25 Million

Wall Street analysts expect RadNet, Inc. (NASDAQ:RDNT) to report $342.25 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for RadNet’s earnings, with estimates ranging from $339.46 million to $345.05 million. RadNet posted sales of $291.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.3%. The firm is scheduled to report its next quarterly earnings results on Monday, November 8th.

On average, analysts expect that RadNet will report full-year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.35 billion. For the next year, analysts expect that the company will report sales of $1.41 billion, with estimates ranging from $1.39 billion to $1.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow RadNet.

RadNet (NASDAQ:RDNT) last posted its earnings results on Monday, August 9th. The medical research company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.14 by $0.13. The firm had revenue of $333.90 million for the quarter, compared to analyst estimates of $325.09 million. RadNet had a return on equity of 12.71% and a net margin of 1.96%. RadNet’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share.

A number of brokerages recently commented on RDNT. TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a research report on Monday, August 16th. Raymond James cut shares of RadNet from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 12th. Barclays initiated coverage on shares of RadNet in a research note on Thursday, August 12th. They set an “overweight” rating and a $39.00 price objective for the company. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Tuesday, July 13th. Finally, Sidoti lifted their target price on shares of RadNet from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 14th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.25.

In other RadNet news, SVP Ruth Louisa Villigerwilson sold 3,246 shares of the stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $31.47, for a total value of $102,151.62. Following the completion of the sale, the senior vice president now directly owns 16,914 shares of the company’s stock, valued at approximately $532,283.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David L. Swartz bought 4,519 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The shares were purchased at an average price of $33.47 per share, with a total value of $151,250.93. The disclosure for this purchase can be found here. 5.80% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in RadNet by 2.0% during the first quarter. Rhumbline Advisers now owns 128,090 shares of the medical research company’s stock worth $2,786,000 after purchasing an additional 2,534 shares during the period. Keybank National Association OH boosted its stake in RadNet by 39.3% during the first quarter. Keybank National Association OH now owns 88,575 shares of the medical research company’s stock worth $1,927,000 after acquiring an additional 25,000 shares in the last quarter. Swiss National Bank lifted its stake in shares of RadNet by 1.2% in the first quarter. Swiss National Bank now owns 100,300 shares of the medical research company’s stock valued at $2,182,000 after buying an additional 1,200 shares in the last quarter. Diversified Trust Co bought a new position in shares of RadNet in the first quarter valued at $257,000. Finally, Royce & Associates LP raised its holdings in shares of RadNet by 14.6% in the first quarter. Royce & Associates LP now owns 295,005 shares of the medical research company’s stock valued at $6,416,000 after purchasing an additional 37,500 shares during the last quarter. 67.06% of the stock is owned by institutional investors.

Shares of RDNT stock traded up $0.20 during mid-day trading on Friday, hitting $28.57. 150,301 shares of the stock were exchanged, compared to its average volume of 242,928. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.88 and a current ratio of 0.88. RadNet has a 12-month low of $13.49 and a 12-month high of $38.84. The stock’s fifty day simple moving average is $32.00 and its two-hundred day simple moving average is $28.38. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 62.11 and a beta of 1.67.

About RadNet

RadNet, Inc provides freestanding, fixed-site outpatient diagnostic imaging services in the United States. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The firm offers magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures.

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