RadNet (NASDAQ:RDNT) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

RadNet (NASDAQ:RDNTGet Rating) released its quarterly earnings data on Monday. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14), Briefing.com reports. The firm had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $333.46 million. RadNet had a return on equity of 10.91% and a net margin of 1.88%. RadNet’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. RadNet updated its FY 2022 guidance to EPS.

Shares of RDNT opened at $18.16 on Tuesday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 39.48 and a beta of 1.72. The company’s 50 day simple moving average is $21.26 and its 200 day simple moving average is $25.54. RadNet has a 1 year low of $18.00 and a 1 year high of $38.84.

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of RadNet in the fourth quarter worth $1,093,000. Barclays PLC boosted its stake in RadNet by 55.8% during the 4th quarter. Barclays PLC now owns 63,119 shares of the medical research company’s stock valued at $1,900,000 after acquiring an additional 22,609 shares during the last quarter. Wells Fargo & Company MN boosted its stake in RadNet by 48.8% during the 4th quarter. Wells Fargo & Company MN now owns 69,414 shares of the medical research company’s stock valued at $2,091,000 after acquiring an additional 22,756 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of RadNet by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 63,022 shares of the medical research company’s stock worth $1,898,000 after buying an additional 1,924 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of RadNet by 46.3% in the 4th quarter. Parametric Portfolio Associates LLC now owns 92,810 shares of the medical research company’s stock worth $2,795,000 after buying an additional 29,354 shares during the last quarter. 64.14% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on RDNT. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. TheStreet lowered shares of RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, March 15th. Finally, StockNews.com began coverage on shares of RadNet in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.00.

RadNet Company Profile (Get Rating)

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.

Featured Stories

Earnings History for RadNet (NASDAQ:RDNT)

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.