Equities analysts expect RadNet Inc. (NASDAQ:RDNT) to announce sales of $241.29 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for RadNet’s earnings. The lowest sales estimate is $240.21 million and the highest is $242.37 million. RadNet posted sales of $227.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 6%. The company is expected to issue its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that RadNet will report full-year sales of $965.35 million for the current financial year, with estimates ranging from $962.30 million to $968.40 million. For the next year, analysts expect that the company will post sales of $1.01 billion per share, with estimates ranging from $997.84 million to $1.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover RadNet.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, August 9th. The medical research company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). RadNet had a negative net margin of 0.64% and a positive return on equity of 17.00%. The business had revenue of $244.40 million for the quarter, compared to analysts’ expectations of $239.34 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis.
Several brokerages have commented on RDNT. Zacks Investment Research downgraded RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. BidaskClub downgraded RadNet from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 11th. Finally, ValuEngine raised RadNet from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. RadNet presently has a consensus rating of “Buy” and a consensus target price of $14.75.
Shares of RDNT opened at $13.60 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 4.49. RadNet has a 12 month low of $8.25 and a 12 month high of $15.50. The firm has a market cap of $678.40 million, a price-to-earnings ratio of 47.31, a price-to-earnings-growth ratio of 4.81 and a beta of 0.32.
In other news, insider Norman R. Hames sold 15,000 shares of the stock in a transaction on Friday, May 25th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the transaction, the insider now directly owns 322,450 shares of the company’s stock, valued at approximately $4,117,686.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Norman R. Hames sold 10,000 shares of the stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $14.17, for a total value of $141,700.00. Following the transaction, the insider now directly owns 292,450 shares in the company, valued at $4,144,016.50. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $727,150 over the last three months. Insiders own 7.56% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDNT. SG Americas Securities LLC bought a new position in RadNet in the 1st quarter worth $114,000. LPL Financial LLC bought a new stake in RadNet during the fourth quarter valued at about $132,000. United Services Automobile Association bought a new stake in RadNet during the second quarter valued at about $156,000. Adalta Capital Management LLC bought a new stake in RadNet during the first quarter valued at about $175,000. Finally, GSA Capital Partners LLP bought a new stake in RadNet during the first quarter valued at about $177,000. 56.92% of the stock is currently owned by hedge funds and other institutional investors.
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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