Wall Street analysts expect RadNet Inc. (NASDAQ:RDNT) to post $241.29 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RadNet’s earnings, with the highest sales estimate coming in at $242.37 million and the lowest estimate coming in at $240.21 million. RadNet posted sales of $227.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is scheduled to report its next earnings report on Thursday, November 8th.
On average, analysts expect that RadNet will report full year sales of $965.35 million for the current year, with estimates ranging from $962.30 million to $968.40 million. For the next year, analysts forecast that the firm 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 sell-side analysts that follow RadNet.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, August 9th. The medical research company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $239.34 million. During the same quarter in the previous year, the firm posted $0.11 EPS. RadNet’s revenue was up 6.3% compared to the same quarter last year.
Several equities analysts recently issued reports on RDNT shares. BidaskClub upgraded shares of RadNet from a “hold” rating to a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research cut shares of RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $14.75.
Shares of NASDAQ RDNT opened at $13.75 on Friday. RadNet has a 1 year low of $9.50 and a 1 year high of $15.50. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $668.75 million, a P/E ratio of 47.41, a P/E/G ratio of 4.95 and a beta of 0.22.
In related news, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $12.97, for a total transaction of $129,700.00. Following the transaction, the insider now owns 912,001 shares in the company, valued at $11,828,652.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 40,000 shares of company stock worth $548,100 in the last quarter. 7.56% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RDNT. SG Americas Securities LLC purchased a new stake in RadNet in the first quarter worth about $114,000. Mackay Shields LLC purchased a new stake in RadNet in the first quarter worth about $3,250,000. Trexquant Investment LP grew its holdings in RadNet by 207.8% in the first quarter. Trexquant Investment LP now owns 47,923 shares of the medical research company’s stock worth $690,000 after purchasing an additional 32,353 shares during the period. American Century Companies Inc. grew its holdings in RadNet by 167.0% in the first quarter. American Century Companies Inc. now owns 57,155 shares of the medical research company’s stock worth $823,000 after purchasing an additional 35,751 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in RadNet in the first quarter worth about $665,000. Institutional investors and hedge funds own 60.45% of the company’s stock.
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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