Zacks: Analysts Anticipate RadNet Inc. (NASDAQ:RDNT) Will Post Earnings of $0.11 Per Share

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Brokerages expect RadNet Inc. (NASDAQ:RDNT) to announce earnings of $0.11 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for RadNet’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.07. RadNet reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10%. The business is scheduled to issue its next quarterly earnings report on Friday, November 8th.

On average, analysts expect that RadNet will report full-year earnings of $0.33 per share for the current fiscal year. For the next year, analysts anticipate that the business will report earnings of $0.54 per share, with EPS estimates ranging from $0.53 to $0.55. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow RadNet.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $289.10 million during the quarter, compared to analyst estimates of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. RadNet’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, TheStreet cut shares of RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.75.

Shares of NASDAQ:RDNT traded down $0.53 during midday trading on Tuesday, hitting $14.12. 142,510 shares of the company’s stock were exchanged, compared to its average volume of 255,673. The company has a debt-to-equity ratio of 5.09, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50 day moving average price of $14.70 and a 200-day moving average price of $13.58. The company has a market cap of $707.79 million, a PE ratio of 21.39, a price-to-earnings-growth ratio of 5.85 and a beta of 1.02. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54.

In related news, insider Michael N. Murdock sold 21,667 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the transaction, the insider now owns 100,575 shares of the company’s stock, valued at approximately $1,330,607.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael L. Md Sherman sold 30,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.19, for a total transaction of $455,700.00. Following the transaction, the director now directly owns 259,083 shares in the company, valued at approximately $3,935,470.77. The disclosure for this sale can be found here. Insiders sold a total of 142,370 shares of company stock worth $2,071,305 in the last three months. Insiders own 6.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in RDNT. Bank of America Corp DE lifted its holdings in RadNet by 26.0% in the fourth quarter. Bank of America Corp DE now owns 52,340 shares of the medical research company’s stock valued at $532,000 after buying an additional 10,811 shares during the period. Millennium Management LLC lifted its holdings in RadNet by 378.7% in the fourth quarter. Millennium Management LLC now owns 82,339 shares of the medical research company’s stock valued at $837,000 after buying an additional 65,138 shares during the period. Dimensional Fund Advisors LP lifted its holdings in RadNet by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,581,140 shares of the medical research company’s stock valued at $16,081,000 after buying an additional 12,736 shares during the period. Deutsche Bank AG increased its stake in RadNet by 72.4% in the fourth quarter. Deutsche Bank AG now owns 147,778 shares of the medical research company’s stock valued at $1,501,000 after purchasing an additional 62,058 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in RadNet by 485.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 6,965 shares in the last quarter. 65.54% of the stock is currently 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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