RadNet, Inc. (RDNT) Posts Quarterly Earnings Results, Hits Estimates
RadNet, Inc. (NASDAQ:RDNT) released its earnings results on Thursday. The medical research company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12, Briefing.com reports. RadNet had a net margin of 1.04% and a return on equity of 19.98%. The firm had revenue of $227.60 million during the quarter, compared to analyst estimates of $232.84 million. During the same period last year, the business earned $0.11 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis.
Shares of RadNet (NASDAQ RDNT) traded down $0.05 during midday trading on Friday, reaching $10.00. 220,606 shares of the company were exchanged, compared to its average volume of 203,050. RadNet has a 52 week low of $5.25 and a 52 week high of $11.90. The stock has a market cap of $489.21, a price-to-earnings ratio of 47.04 and a beta of 0.87. The company has a debt-to-equity ratio of 9.45, a quick ratio of 1.37 and a current ratio of 1.37.
Several equities analysts have recently issued reports on RDNT shares. TheStreet upgraded shares of RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. Jefferies Group LLC upgraded shares of RadNet from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th.
In related news, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $10.98, for a total value of $274,500.00. Following the completion of the transaction, the director now directly owns 274,108 shares in the company, valued at approximately $3,009,705.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Stolper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $10.19, for a total transaction of $101,900.00. Following the completion of the transaction, the vice president now owns 145,319 shares of the company’s stock, valued at $1,480,800.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,236,900 shares of company stock valued at $13,452,504. 9.36% of the stock is owned by company insiders.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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