Zacks: Brokerages Expect RadNet Inc. (RDNT) to Post -$0.08 EPS

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Equities research analysts forecast that RadNet Inc. (NASDAQ:RDNT) will announce ($0.08) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for RadNet’s earnings. RadNet reported earnings per share of ($0.04) during the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The firm is scheduled to announce its next earnings results on Wednesday, May 8th.

On average, analysts expect that RadNet will report full year earnings of $0.34 per share for the current fiscal year. For the next year, analysts anticipate that the company will post earnings of $0.55 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that follow RadNet.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.41. RadNet had a return on equity of 27.51% and a net margin of 3.31%. The firm had revenue of $257.21 million during the quarter, compared to the consensus estimate of $248.21 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s revenue was up 9.2% on a year-over-year basis.

A number of equities analysts recently commented on RDNT shares. ValuEngine downgraded RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Raymond James downgraded RadNet from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $16.00 to $17.50 in a report on Friday, March 15th. They noted that the move was a valuation call. BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research downgraded RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. RadNet has an average rating of “Hold” and an average target price of $17.75.

Shares of RadNet stock opened at $13.11 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 3.16. The company has a market cap of $656.94 million, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 4.82 and a beta of 1.18. RadNet has a 52 week low of $9.97 and a 52 week high of $16.54.

In related news, Director Michael L. Md Sherman sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.89, for a total transaction of $277,800.00. Following the completion of the transaction, the director now owns 279,720 shares in the company, valued at $3,885,310.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David L. Swartz sold 11,556 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $14.72, for a total value of $170,104.32. Following the transaction, the director now owns 265,855 shares of the company’s stock, valued at approximately $3,913,385.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,556 shares of company stock valued at $672,754. 7.56% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Dalton Greiner Hartman Maher & Co. grew its stake in RadNet by 262.5% in 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. Tibra Equities Europe Ltd bought a new position in shares of RadNet during the first quarter valued at $368,000. Deutsche Bank AG lifted its holdings in shares of RadNet by 72.4% during the fourth quarter. Deutsche Bank AG now owns 147,778 shares of the medical research company’s stock valued at $1,501,000 after purchasing an additional 62,058 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RadNet by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 791,819 shares of the medical research company’s stock valued at $8,052,000 after purchasing an additional 60,757 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 valued at $16,081,000 after purchasing an additional 12,736 shares in the last quarter. 62.01% of the stock is currently owned by institutional investors.

RadNet Company Profile

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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