RadNet (RDNT) Set to Announce Quarterly Earnings on Thursday

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

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

RadNet Stock Up 7.5 %

Shares of NASDAQ RDNT opened at $59.45 on Wednesday. RadNet has a 52-week low of $25.11 and a 52-week high of $66.04. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 198.17 and a beta of 1.75. The stock has a 50 day moving average price of $59.76 and a 200 day moving average price of $50.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.86 and a current ratio of 1.86.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at RadNet

In other news, COO Norman R. Hames sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.15, for a total transaction of $917,250.00. Following the sale, the chief operating officer now owns 280,919 shares in the company, valued at $17,178,196.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Norman R. Hames sold 18,597 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.08, for a total value of $1,173,098.76. Following the transaction, the chief operating officer now directly owns 227,322 shares of the company’s stock, valued at $14,339,471.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.15, for a total value of $917,250.00. Following the completion of the sale, the chief operating officer now owns 280,919 shares in the company, valued at approximately $17,178,196.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,730 shares of company stock worth $6,121,516. 5.12% of the stock is owned by insiders.

RadNet Company Profile

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.