Analysts Expect RadNet Inc. (NASDAQ:RDNT) to Announce $0.10 Earnings Per Share

Equities analysts expect RadNet Inc. (NASDAQ:RDNT) to report earnings of $0.10 per share for the current quarter, according to Zacks. Two analysts have made estimates for RadNet’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.13. RadNet also reported earnings of $0.10 per share in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Friday, November 8th.

On average, analysts expect that RadNet will report full year earnings of $0.33 per share for the current year. For the next year, analysts expect that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.59. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for RadNet.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $272.36 million. RadNet had a net margin of 3.33% and a return on equity of 19.82%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS.

RDNT has been the subject of a number of research reports. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research report on Tuesday, June 4th. Finally, BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.75.

RadNet stock traded up $0.01 during mid-day trading on Monday, reaching $15.02. 305,600 shares of the stock traded hands, compared to its average volume of 251,786. The firm has a market capitalization of $753.20 million, a PE ratio of 22.76, a PEG ratio of 5.43 and a beta of 1.02. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.74. RadNet has a 12-month low of $9.97 and a 12-month high of $16.54. The firm’s 50-day simple moving average is $14.34.

In other RadNet news, insider Michael N. Murdock sold 21,667 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $13.23, for a total value of $286,654.41. Following the completion of the sale, the insider now owns 100,575 shares in the company, valued at $1,330,607.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John V. Crues sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.15, for a total value of $263,000.00. Following the completion of the sale, the insider now owns 524,097 shares of the company’s stock, valued at approximately $6,891,875.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,667 shares of company stock valued at $811,454. 6.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in RadNet in the first quarter worth about $34,000. Financial Gravity Wealth Inc. purchased a new stake in RadNet in the first quarter worth about $35,000. Aperio Group LLC purchased a new stake in RadNet in the second quarter worth about $36,000. Oppenheimer Asset Management Inc. purchased a new stake in RadNet in the second quarter worth about $40,000. Finally, BNP Paribas Arbitrage SA increased its position in RadNet by 485.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock worth $104,000 after buying an additional 6,965 shares in the last quarter. Institutional investors and hedge funds own 63.40% of the company’s stock.

About RadNet

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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