$0.12 Earnings Per Share Expected for RadNet Inc. (NASDAQ:RDNT) This Quarter

Wall Street analysts predict that RadNet Inc. (NASDAQ:RDNT) will announce $0.12 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for RadNet’s earnings, with estimates ranging from $0.10 to $0.13. RadNet posted earnings of $0.15 per share during the same quarter last year, which would suggest a negative year over year growth rate of 20%. The company is expected to announce its next earnings report on Thursday, August 8th.

According to Zacks, analysts expect that RadNet will report full year earnings of $0.35 per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.59. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for RadNet.

RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). RadNet had a net margin of 3.53% and a return on equity of 22.38%. The business had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $256.30 million. During the same quarter in the prior year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.

RDNT has been the subject of several research analyst reports. BidaskClub cut shares of Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, TheStreet downgraded shares of TIM Participacoes from a “b” rating to a “c+” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.75.

Shares of RadNet stock traded up $0.09 during trading hours on Friday, hitting $14.40. The company had a trading volume of 1,344 shares, compared to its average volume of 225,014. The company’s 50-day moving average price is $13.36. RadNet has a twelve month low of $9.97 and a twelve month high of $16.54. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $708.13 million, a P/E ratio of 21.79, a P/E/G ratio of 5.54 and a beta of 1.10.

In related news, insider Norman R. Hames sold 20,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.09, for a total value of $261,800.00. Following the completion of the sale, the insider now owns 559,158 shares in the company, valued at approximately $7,319,378.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael N. Murdock sold 21,667 shares of the company’s 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 completion of the sale, the insider now owns 100,575 shares of the company’s stock, valued at approximately $1,330,607.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,667 shares of company stock valued at $811,454. 6.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in RDNT. Moab Capital Partners LLC raised its position in RadNet by 46.0% during the 4th quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock worth $34,299,000 after buying an additional 1,062,592 shares during the last quarter. BlackRock Inc. raised its position in shares of RadNet by 3.9% during the fourth quarter. BlackRock Inc. now owns 3,209,766 shares of the medical research company’s stock worth $32,644,000 after purchasing an additional 120,149 shares during the period. Dimensional Fund Advisors LP raised its position in shares of RadNet by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,581,140 shares of the medical research company’s stock worth $16,081,000 after purchasing an additional 12,736 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in shares of RadNet by 262.5% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,197,068 shares of the medical research company’s stock worth $14,832,000 after purchasing an additional 866,818 shares during the period. Finally, Cortina Asset Management LLC raised its position in shares of RadNet by 32.5% during the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock worth $16,096,000 after purchasing an additional 286,388 shares during the period. Hedge funds and other institutional investors own 64.55% of the company’s stock.

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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