B. Riley Brokers Increase Earnings Estimates for RadNet

Key Points

• Analysts at B. Riley have increased their FY2025 earnings per share estimates for RadNet from $0.20 to $0.39, maintaining a "Strong-Buy" rating for the stock.
• RadNet reported a quarterly EPS of $0.31, surpassing expectations of $0.17, with a revenue of $498.23 million, which was above the consensus estimate of $488.06 million.
• RadNet's stock currently has an average target price of $71.60 and is characterized by high institutional ownership, with 77.90% held by hedge funds and other institutional investors.

RadNet, Inc. (NASDAQ:RDNT - Free Report) - Research analysts at B. Riley upped their FY2025 EPS estimates for shares of RadNet in a report released on Tuesday, August 12th. B. Riley analyst Y. Zhi now expects that the medical research company will post earnings per share of $0.39 for the year, up from their prior forecast of $0.20. B. Riley currently has a "Strong-Buy" rating on the stock. The consensus estimate for RadNet's current full-year earnings is $0.56 per share.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its earnings results on Sunday, August 10th. The medical research company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.14. The firm had revenue of $498.23 million for the quarter, compared to the consensus estimate of $488.06 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. The company's revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS.

A number of other analysts have also recently weighed in on RDNT. Truist Financial set a $74.00 price target on shares of RadNet in a research note on Thursday, July 10th. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 target price (up previously from $66.00) on shares of RadNet in a research note on Wednesday. Morgan Stanley upgraded shares of RadNet to an "overweight" rating in a research note on Monday. Finally, Wall Street Zen cut shares of RadNet from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $71.60.

RadNet Stock Down 0.3%

Shares of NASDAQ:RDNT opened at $68.21 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of -340.61 and a beta of 1.43. The firm has a fifty day moving average price of $56.98 and a 200 day moving average price of $55.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.01. RadNet has a 1-year low of $45.00 and a 1-year high of $93.65.

Institutional Investors Weigh In On RadNet

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of RadNet during the first quarter worth about $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of RadNet during the second quarter worth about $35,000. GAMMA Investing LLC grew its holdings in shares of RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after buying an additional 300 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of RadNet during the second quarter worth about $85,000. Finally, Jones Financial Companies Lllp boosted its position in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock worth $85,000 after acquiring an additional 1,448 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the transaction, the executive vice president directly owned 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company's stock.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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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