RadNet (NASDAQ:RDNT – Get Free Report) announced its quarterly earnings data on Wednesday. The medical research company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.16, Briefing.com reports. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The firm had revenue of $431.70 million during the quarter, compared to analyst estimates of $421.72 million. During the same period in the previous year, the company earned ($0.08) earnings per share. RadNet’s quarterly revenue was up 10.5% on a year-over-year basis. RadNet updated its FY 2024 guidance to EPS.
RadNet Stock Up 5.8 %
RadNet stock opened at $53.57 on Friday. The firm has a market capitalization of $3.96 billion, a P/E ratio of -2,678.50 and a beta of 1.69. The company has a 50-day simple moving average of $48.13 and a 200-day simple moving average of $39.29. RadNet has a one year low of $25.11 and a one year high of $53.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 1.32.
Analyst Ratings Changes
Several equities research analysts recently issued reports on RDNT shares. Truist Financial reissued a “buy” rating and set a $55.00 price target (up from $51.00) on shares of RadNet in a research report on Thursday, March 28th. StockNews.com raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays began coverage on shares of RadNet in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $48.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on RadNet from $47.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 22nd.
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.
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