RadNet (NASDAQ:RDNT) Posts Earnings Results

RadNet (NASDAQ:RDNT) posted its earnings results on Wednesday. The medical research company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.16, Briefing.com reports. The firm had revenue of $431.70 million for the quarter, compared to the consensus estimate of $421.72 million. RadNet had a return on equity of 4.72% and a net margin of 0.19%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. RadNet updated its FY 2024 guidance to EPS.

RadNet Price Performance

Shares of RadNet stock traded up $2.94 during trading on Thursday, reaching $53.57. 937,336 shares of the stock traded hands, compared to its average volume of 527,584. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -2,678.50 and a beta of 1.69. The business has a fifty day simple moving average of $47.81 and a two-hundred day simple moving average of $39.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.32 and a quick ratio of 1.32. RadNet has a 52-week low of $25.11 and a 52-week high of $53.90.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $55.00 target price (up from $51.00) on shares of RadNet in a report on Thursday, March 28th. Barclays assumed coverage on 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 raised their target price on RadNet from $47.00 to $58.00 and gave the stock 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.