Brokerages predict that RadNet Inc. (NASDAQ:RDNT) will announce $271.31 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RadNet’s earnings. The highest sales estimate is $273.54 million and the lowest is $269.08 million. RadNet reported sales of $244.40 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11%. The firm is scheduled to report its next earnings report on Thursday, August 8th.
On average, analysts expect that RadNet will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.10 billion. For the next year, analysts anticipate that the business will post sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.14 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for RadNet.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). RadNet had a net margin of 3.53% and a return on equity of 22.38%. The company had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $256.30 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue was up 17.3% on a year-over-year basis.
A number of brokerages have recently issued reports on RDNT. BidaskClub cut shares of Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Finally, TheStreet cut shares of TIM Participacoes from a “b” rating to a “c+” rating in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.75.
Shares of RDNT stock traded up $0.19 during mid-day trading on Monday, reaching $14.75. The company’s stock had a trading volume of 232,541 shares, compared to its average volume of 204,244. RadNet has a 1-year low of $9.97 and a 1-year high of $16.54. The company has a market capitalization of $729.19 million, a P/E ratio of 22.35, a P/E/G ratio of 5.55 and a beta of 1.10. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50-day moving average is $13.46.
In related news, insider Michael N. Murdock sold 21,667 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the completion of the sale, the insider now owns 100,575 shares in the company, valued at approximately $1,330,607.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John V. Crues sold 20,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.15, for a total transaction of $263,000.00. Following 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. Insiders have sold a total of 61,667 shares of company stock valued at $811,454 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Moab Capital Partners LLC increased its position in RadNet by 46.0% in the 4th quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock valued at $34,299,000 after acquiring an additional 1,062,592 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in RadNet by 262.5% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 1,197,068 shares of the medical research company’s stock valued at $14,832,000 after acquiring an additional 866,818 shares in the last quarter. Global Alpha Capital Management Ltd. increased its position in RadNet by 63.1% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 897,148 shares of the medical research company’s stock valued at $11,116,000 after acquiring an additional 347,100 shares in the last quarter. Cortina Asset Management LLC increased its position in RadNet by 32.5% in the 2nd quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock valued at $16,096,000 after acquiring an additional 286,388 shares in the last quarter. Finally, Beck Mack & Oliver LLC increased its position in RadNet by 27.7% in the 1st quarter. Beck Mack & Oliver LLC now owns 688,153 shares of the medical research company’s stock valued at $8,526,000 after acquiring an additional 149,250 shares in the last quarter. Institutional investors and hedge funds own 64.55% 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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