$347.21 Million in Sales Expected for RadNet, Inc. (NASDAQ:RDNT) This Quarter

Wall Street analysts expect RadNet, Inc. (NASDAQ:RDNTGet Rating) to announce $347.21 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for RadNet’s earnings, with estimates ranging from $345.84 million to $348.58 million. RadNet reported sales of $333.92 million during the same quarter last year, which indicates a positive year over year growth rate of 4%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that RadNet will report full-year sales of $1.38 billion for the current fiscal year. For the next financial year, analysts forecast that the business will report sales of $1.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for RadNet.

RadNet (NASDAQ:RDNTGet Rating) last announced its quarterly earnings results on Monday, May 9th. The medical research company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $333.46 million. RadNet had a net margin of 1.36% and a return on equity of 6.82%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS.

RDNT has been the subject of a number of analyst reports. TheStreet cut RadNet from a “b-” rating to a “c” rating in a report on Tuesday, March 15th. StockNews.com initiated coverage on RadNet in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, RadNet currently has an average rating of “Hold” and a consensus price target of $38.00.

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its position in shares of RadNet by 15.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 78,750 shares of the medical research company’s stock worth $2,308,000 after buying an additional 10,250 shares during the last quarter. Swiss National Bank grew its stake in RadNet by 2.3% during the third quarter. Swiss National Bank now owns 98,900 shares of the medical research company’s stock worth $2,899,000 after purchasing an additional 2,200 shares during the period. ProShare Advisors LLC grew its stake in RadNet by 62.5% during the fourth quarter. ProShare Advisors LLC now owns 11,312 shares of the medical research company’s stock worth $341,000 after purchasing an additional 4,349 shares during the period. SG Americas Securities LLC grew its stake in RadNet by 56.0% in the third quarter. SG Americas Securities LLC now owns 4,907 shares of the medical research company’s stock valued at $144,000 after acquiring an additional 1,762 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its stake in RadNet by 171.0% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 742,580 shares of the medical research company’s stock valued at $21,765,000 after acquiring an additional 468,590 shares during the period. 64.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of RDNT stock opened at $17.87 on Monday. The stock has a market cap of $1.00 billion, a P/E ratio of 54.15 and a beta of 1.72. RadNet has a one year low of $16.44 and a one year high of $38.84. The stock has a fifty day moving average price of $20.84 and a 200 day moving average price of $25.17. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.76 and a quick ratio of 0.87.

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.

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