RadNet (NASDAQ:RDNT) Releases FY 2021 Earnings Guidance

RadNet (NASDAQ:RDNT) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $1.28 billion-1.33 billion, compared to the consensus revenue estimate of $1.27 billion.

Shares of NASDAQ:RDNT opened at $31.26 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.14. RadNet has a fifty-two week low of $13.49 and a fifty-two week high of $33.57. The firm’s 50-day simple moving average is $24.25. The company has a market cap of $1.65 billion, a P/E ratio of 156.30 and a beta of 1.68.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, May 10th. The medical research company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. RadNet had a net margin of 0.99% and a return on equity of 4.80%. The business had revenue of $315.30 million during the quarter, compared to the consensus estimate of $283.07 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts expect that RadNet will post 0.56 earnings per share for the current fiscal year.

A number of research analysts have issued reports on RDNT shares. TheStreet raised shares of RadNet from a c rating to a b- rating in a research note on Tuesday, May 18th. Raymond James boosted their target price on shares of RadNet from $22.00 to $26.00 and gave the company an outperform rating in a research note on Tuesday, March 9th. Finally, Zacks Investment Research raised shares of RadNet from a sell rating to a hold rating in a research note on Thursday, May 20th.

In other news, EVP Michael N. Murdock sold 18,333 shares of the company’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $26.88, for a total value of $492,791.04. Following the completion of the sale, the executive vice president now directly owns 65,920 shares of the company’s stock, valued at approximately $1,771,929.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence L. Levitt purchased 7,000 shares of RadNet stock in a transaction dated Thursday, May 13th. The stock was bought at an average cost of $23.00 per share, with a total value of $161,000.00. Following the completion of the purchase, the director now owns 191,982 shares in the company, valued at approximately $4,415,586. The disclosure for this purchase can be found here. Insiders have sold a total of 63,333 shares of company stock valued at $1,492,941 over the last three months. 5.80% of the stock is currently owned by company insiders.

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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