Equities analysts expect that RadNet, Inc. (NASDAQ:RDNT) will post $294.56 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for RadNet's earnings, with estimates ranging from $292.81 million to $296.31 million. RadNet reported sales of $281.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The company is expected to issue its next earnings report on Monday, May 10th.
According to Zacks, analysts expect that RadNet will report full year sales of $1.28 billion for the current year. For the next year, analysts forecast that the firm will report sales of $1.34 billion, with estimates ranging from $1.33 billion to $1.34 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow RadNet.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Sunday, March 7th. The medical research company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). RadNet had a negative net margin of 0.98% and a negative return on equity of 2.72%. The company had revenue of $308.50 million for the quarter, compared to analysts' expectations of $300.62 million. During the same period in the previous year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis.
Separately, Raymond James lifted their price objective on RadNet from $22.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, March 15th.
In other news, SVP Ruth Louisa Villigerwilson sold 2,500 shares of the business's stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $22.97, for a total value of $57,425.00. Following the transaction, the senior vice president now directly owns 31,914 shares in the company, valued at $733,064.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman R. Hames sold 35,000 shares of the company's stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $21.00, for a total value of $735,000.00. Following the completion of the transaction, the insider now owns 370,160 shares of the company's stock, valued at $7,773,360. The disclosure for this sale can be found here. Insiders have sold 92,500 shares of company stock valued at $2,027,575 over the last 90 days. 5.77% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of RadNet by 2.5% in the 4th quarter. BlackRock Inc. now owns 6,540,626 shares of the medical research company's stock valued at $128,000,000 after purchasing an additional 156,933 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in RadNet by 4.3% in the fourth quarter. Beck Mack & Oliver LLC now owns 2,027,466 shares of the medical research company's stock worth $39,678,000 after buying an additional 82,851 shares during the last quarter. Tamarack Advisers LP boosted its stake in RadNet by 4.0% during the fourth quarter. Tamarack Advisers LP now owns 650,000 shares of the medical research company's stock worth $12,093,000 after buying an additional 25,000 shares during the period. SummerHaven Investment Management LLC bought a new position in RadNet during the fourth quarter valued at $528,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of RadNet by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 282,529 shares of the medical research company's stock valued at $5,530,000 after acquiring an additional 2,369 shares during the period. Institutional investors and hedge funds own 67.46% of the company's stock.
Shares of RDNT opened at $22.21 on Monday. The firm has a fifty day simple moving average of $21.54 and a two-hundred day simple moving average of $19.06. The firm has a market cap of $1.16 billion, a PE ratio of -105.80 and a beta of 1.52. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.55. RadNet has a 1-year low of $11.27 and a 1-year high of $25.49.
RadNet Company Profile
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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