$252.87 Million in Sales Expected for RadNet Inc. (RDNT) This Quarter

Brokerages expect RadNet Inc. (NASDAQ:RDNT) to post sales of $252.87 million for the current quarter, Zacks reports. Two analysts have made estimates for RadNet’s earnings, with the highest sales estimate coming in at $253.73 million and the lowest estimate coming in at $252.00 million. RadNet reported sales of $235.55 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is expected to announce its next quarterly earnings results on Thursday, March 14th.

According to Zacks, analysts expect that RadNet will report full year sales of $970.81 million for the current financial year, with estimates ranging from $969.94 million to $971.67 million. For the next year, analysts anticipate that the firm will post sales of $1.05 billion, with estimates ranging from $1.04 billion to $1.06 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow RadNet.

RadNet (NASDAQ:RDNT) last posted its earnings results on Friday, November 9th. The medical research company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.05). The firm had revenue of $242.10 million for the quarter, compared to the consensus estimate of $240.07 million. RadNet had a positive return on equity of 14.62% and a negative net margin of 0.44%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS.

RDNT has been the topic of a number of analyst reports. BidaskClub raised shares of RadNet from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Zacks Investment Research lowered shares of RadNet from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.50.

In other RadNet news, insider Norman R. Hames sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $15.59, for a total value of $218,260.00. Following the completion of the transaction, the insider now owns 589,000 shares of the company’s stock, valued at approximately $9,182,510. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $14.78, for a total transaction of $147,800.00. Following the completion of the transaction, the insider now directly owns 902,001 shares of the company’s stock, valued at approximately $13,331,574.78. The disclosure for this sale can be found here. Corporate insiders own 7.56% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in RadNet by 21.1% in the 3rd quarter. BlackRock Inc. now owns 3,089,617 shares of the medical research company’s stock worth $46,499,000 after buying an additional 537,422 shares in the last quarter. Renaissance Technologies LLC grew its stake in RadNet by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,414,812 shares of the medical research company’s stock worth $36,222,000 after buying an additional 413,312 shares in the last quarter. FMR LLC grew its stake in RadNet by 46.7% in the 3rd quarter. FMR LLC now owns 2,105,744 shares of the medical research company’s stock worth $31,692,000 after buying an additional 670,255 shares in the last quarter. Vanguard Group Inc. grew its stake in RadNet by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,669,965 shares of the medical research company’s stock worth $25,134,000 after buying an additional 23,602 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in RadNet by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,568,404 shares of the medical research company’s stock worth $23,604,000 after buying an additional 7,581 shares in the last quarter. 61.47% of the stock is owned by institutional investors and hedge funds.

RadNet stock traded down $0.43 during midday trading on Tuesday, reaching $12.65. 199,700 shares of the stock were exchanged, compared to its average volume of 252,328. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 4.56. The firm has a market capitalization of $629.89 million, a PE ratio of 43.62, a price-to-earnings-growth ratio of 4.81 and a beta of 0.43. RadNet has a 52 week low of $9.50 and a 52 week high of $16.54.

About RadNet

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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