Wall Street analysts forecast that RadNet Inc. (NASDAQ:RDNT) will report earnings per share of $0.15 for the current quarter, according to Zacks. Two analysts have made estimates for RadNet’s earnings. RadNet reported earnings per share of $0.12 in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is expected to announce its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that RadNet will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.34 to $0.37. For the next fiscal year, analysts expect that the firm will post earnings of $0.62 per share, with EPS estimates ranging from $0.60 to $0.63. Zacks’ EPS averages are an average based on a survey of analysts that cover RadNet.
RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, August 9th. The medical research company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). RadNet had a positive return on equity of 17.00% and a negative net margin of 0.64%. The business had revenue of $244.40 million for the quarter, compared to the consensus estimate of $239.34 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year.
RDNT has been the topic of several recent research reports. BidaskClub raised shares of RadNet from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Zacks Investment Research cut shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $15.50.
Shares of RDNT traded up $0.61 during mid-day trading on Tuesday, hitting $16.26. 356,000 shares of the company’s stock were exchanged, compared to its average volume of 255,676. RadNet has a 52 week low of $9.50 and a 52 week high of $16.54. The stock has a market capitalization of $726.69 million, a PE ratio of 55.34, a P/E/G ratio of 5.38 and a beta of 0.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 4.49.
In related news, insider Norman R. Hames sold 14,000 shares of RadNet stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $15.59, for a total value of $218,260.00. Following the transaction, the insider now directly owns 589,000 shares of the company’s stock, valued at $9,182,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey L. Linden sold 10,000 shares of RadNet stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $14.78, for a total transaction of $147,800.00. Following the completion of the transaction, the insider now directly owns 902,001 shares in the company, valued at $13,331,574.78. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock worth $506,660 over the last three months. 7.56% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in RDNT. FMR LLC bought a new position in RadNet in the second quarter valued at approximately $21,532,000. Renaissance Technologies LLC grew its stake in shares of RadNet by 20.7% during the second quarter. Renaissance Technologies LLC now owns 2,414,812 shares of the medical research company’s stock worth $36,222,000 after buying an additional 413,312 shares during the last quarter. BlackRock Inc. grew its stake in shares of RadNet by 17.2% during the second quarter. BlackRock Inc. now owns 2,552,195 shares of the medical research company’s stock worth $38,283,000 after buying an additional 374,945 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of RadNet during the third quarter worth $5,026,000. Finally, Phocas Financial Corp. grew its stake in shares of RadNet by 318.7% during the second quarter. Phocas Financial Corp. now owns 423,217 shares of the medical research company’s stock worth $6,348,000 after buying an additional 322,145 shares during the last quarter. 60.33% of the stock is currently owned by institutional investors and hedge funds.
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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