Analysts Expect RadNet, Inc. (NASDAQ:RDNT) Will Announce Quarterly Sales of $326.78 Million

Thursday, July 22, 2021 | MarketBeat

Equities research analysts forecast that RadNet, Inc. (NASDAQ:RDNT) will announce sales of $326.78 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for RadNet's earnings, with the highest sales estimate coming in at $328.35 million and the lowest estimate coming in at $325.21 million. RadNet reported sales of $190.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 71.5%. The business is scheduled to issue its next quarterly earnings results on Monday, August 9th.

On average, analysts expect that RadNet will report full-year sales of $1.32 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.32 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.38 billion, with estimates ranging from $1.38 billion to $1.39 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that cover RadNet.

RadNet (NASDAQ:RDNT) last announced its earnings results on Monday, May 10th. The medical research company reported $0.04 EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.04) by $0.08. RadNet had a return on equity of 4.80% and a net margin of 0.99%. The business had revenue of $315.30 million for the quarter, compared to analysts' expectations of $283.07 million. During the same period in the prior year, the business posted ($0.33) earnings per share. The firm's revenue was up 12.0% on a year-over-year basis.

Several equities analysts have issued reports on the company. Sidoti boosted their price target on RadNet from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, June 14th. Zacks Investment Research raised RadNet from a "hold" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Tuesday, July 13th. Finally, TheStreet raised RadNet from a "c" rating to a "b-" rating in a research note on Tuesday, May 18th.

In other news, Director Lawrence L. Levitt bought 7,000 shares of the stock in a transaction dated Thursday, May 13th. The shares were bought at an average cost of $23.00 per share, with a total value of $161,000.00. Following the completion of the transaction, the director now directly owns 191,982 shares of the company's stock, valued at $4,415,586. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Norman R. Hames sold 35,000 shares of the company's stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $33.66, for a total value of $1,178,100.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in RDNT. Vantage Consulting Group Inc bought a new stake in RadNet during the fourth quarter worth $26,000. Arkadios Wealth Advisors bought a new stake in RadNet during the first quarter worth $54,000. SG Americas Securities LLC bought a new stake in RadNet during the first quarter worth $146,000. Captrust Financial Advisors grew its holdings in RadNet by 7.2% during the fourth quarter. Captrust Financial Advisors now owns 12,190 shares of the medical research company's stock worth $239,000 after buying an additional 815 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in RadNet during the first quarter worth $246,000. Institutional investors and hedge funds own 66.52% of the company's stock.

Shares of RDNT stock opened at $33.99 on Thursday. The firm has a 50 day moving average of $30.93. RadNet has a one year low of $13.49 and a one year high of $36.64. The company has a market capitalization of $1.79 billion, a PE ratio of 169.95 and a beta of 1.69. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.55 and a quick ratio of 0.55.

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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