Equities research analysts expect RadNet Inc. (NASDAQ:RDNT) to post $292.94 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for RadNet’s earnings, with the highest sales estimate coming in at $293.63 million and the lowest estimate coming in at $292.25 million. RadNet reported sales of $257.21 million during the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The company is scheduled to report its next earnings results on Thursday, March 12th.
On average, analysts expect that RadNet will report full-year sales of $1.15 billion for the current year. For the next financial year, analysts forecast that the business will report sales of $1.19 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow RadNet.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, November 12th. The medical research company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). The firm had revenue of $292.70 million for the quarter, compared to analysts’ expectations of $283.39 million. RadNet had a net margin of 3.02% and a return on equity of 16.52%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS.
RDNT stock traded down $0.04 during midday trading on Monday, hitting $20.44. The company had a trading volume of 9,438 shares, compared to its average volume of 270,184. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 5.01. RadNet has a 52 week low of $10.69 and a 52 week high of $20.80. The stock’s 50 day moving average price is $19.79 and its 200 day moving average price is $16.19. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 4.81 and a beta of 0.97.
In other news, insider Norman R. Hames sold 10,327 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $18.92, for a total value of $195,386.84. Following the sale, the insider now directly owns 532,691 shares of the company’s stock, valued at approximately $10,078,513.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John V. Crues sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.01, for a total value of $360,200.00. Following the completion of the sale, the director now directly owns 414,097 shares in the company, valued at $7,457,886.97. The disclosure for this sale can be found here. Insiders have sold 50,327 shares of company stock valued at $911,187 in the last three months. Insiders own 6.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in RadNet by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,058,540 shares of the medical research company’s stock valued at $28,386,000 after purchasing an additional 128,738 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of RadNet by 2.9% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,243,053 shares of the medical research company’s stock valued at $17,850,000 after acquiring an additional 35,444 shares in the last quarter. State Street Corp increased its position in shares of RadNet by 4.1% during the third quarter. State Street Corp now owns 889,809 shares of the medical research company’s stock valued at $12,778,000 after acquiring an additional 35,430 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in RadNet by 28.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 811,595 shares of the medical research company’s stock worth $11,652,000 after acquiring an additional 180,484 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in RadNet by 0.4% in the 2nd quarter. Northern Trust Corp now owns 528,414 shares of the medical research company’s stock worth $7,287,000 after acquiring an additional 1,885 shares during the last quarter. 63.76% of the stock is owned by institutional investors.
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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