RadNet (RDNT) to Release Earnings on Thursday

RadNet (NASDAQ:RDNT) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Wednesday, May 8th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.16. RadNet had a return on equity of 5.05% and a net margin of 1.28%. The company had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect RadNet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $59.45 on Wednesday. The stock has a market cap of $4.39 billion, a P/E ratio of 198.17 and a beta of 1.75. The firm’s 50-day simple moving average is $59.76 and its 200 day simple moving average is $50.99. RadNet has a fifty-two week low of $25.11 and a fifty-two week high of $66.04. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.76.

Insider Activity at RadNet

In other news, Director Gregory E. Spurlock sold 7,167 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $428,228.25. Following the completion of the sale, the director now directly owns 9,758 shares of the company’s stock, valued at approximately $583,040.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other RadNet news, Director Gregory E. Spurlock sold 7,167 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $428,228.25. Following the sale, the director now owns 9,758 shares in the company, valued at approximately $583,040.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence L. Levitt sold 4,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.77, for a total transaction of $231,080.00. Following the sale, the director now directly owns 172,657 shares of the company’s stock, valued at $9,974,394.89. The disclosure for this sale can be found here. Insiders sold a total of 99,730 shares of company stock valued at $6,121,516 over the last ninety days. Insiders own 5.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RDNT shares. Jefferies Financial Group boosted their price target on shares of RadNet from $61.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays boosted their target price on RadNet from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Truist Financial increased their price target on RadNet from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Raymond James boosted their price objective on RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, StockNews.com cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.00.

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.