Equities research analysts forecast that RadNet Inc. (NASDAQ:RDNT) will post $0.15 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for RadNet’s earnings. RadNet posted earnings of $0.12 per share in the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is scheduled to report its next quarterly earnings report before the market opens on Friday, November 9th.
On average, analysts expect that RadNet will report full-year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.37. For the next year, analysts anticipate that the company will report earnings of $0.62 per share, with EPS estimates ranging from $0.60 to $0.63. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover RadNet.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, August 9th. The medical research company reported $0.11 earnings per share 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 company had revenue of $244.40 million during the quarter, compared to analyst estimates of $239.34 million. During the same quarter in the prior year, the business earned $0.11 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of RadNet from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of RadNet from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, October 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. RadNet currently has an average rating of “Buy” and an average price target of $15.50.
RadNet stock traded up $0.14 during mid-day trading on Friday, reaching $14.69. The company had a trading volume of 4,692 shares, compared to its average volume of 226,983. RadNet has a fifty-two week low of $9.50 and a fifty-two week high of $16.54. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $707.37 million, a P/E ratio of 50.72, a P/E/G ratio of 5.16 and a beta of 0.36.
In related news, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $14.78, for a total transaction of $147,800.00. Following the transaction, the insider now directly owns 902,001 shares in the company, valued at $13,331,574.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Norman R. Hames sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $15.59, for a total transaction of $218,260.00. Following the transaction, the insider now owns 589,000 shares in the company, valued at $9,182,510. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock valued at $506,660 in the last ninety days. Insiders own 7.56% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in RDNT. FMR LLC purchased a new position in RadNet during the second quarter worth about $21,532,000. Cheyne Capital Management UK LLP boosted its holdings in RadNet by 119.7% during the third quarter. Cheyne Capital Management UK LLP now owns 771,992 shares of the medical research company’s stock worth $11,618,000 after purchasing an additional 420,599 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in 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 purchasing an additional 413,312 shares during the last quarter. BlackRock Inc. raised its position in RadNet by 17.2% in the second quarter. BlackRock Inc. now owns 2,552,195 shares of the medical research company’s stock worth $38,283,000 after acquiring an additional 374,945 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in RadNet in the third quarter worth about $5,026,000. Institutional investors and hedge funds own 61.21% 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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