RadNet (NASDAQ:RDNT) Issues Earnings Results, Beats Expectations By $0.08 EPS

RadNet (NASDAQ:RDNT) announced its quarterly earnings data on Monday. The medical research company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08, FiscalAI reports. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. The business had revenue of $638.26 million during the quarter, compared to the consensus estimate of $639.97 million.

RadNet Stock Performance

Shares of RDNT opened at $76.00 on Monday. RadNet has a 1-year low of $50.82 and a 1-year high of $85.84. The company has a 50-day moving average of $72.57 and a 200 day moving average of $65.40. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -281.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 1.48.

Analyst Ratings Changes

RDNT has been the topic of several recent analyst reports. Barclays increased their price target on RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Truist Financial boosted their price objective on RadNet from $90.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group restated a “buy” rating on shares of RadNet in a report on Friday, July 31st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of RadNet in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of RadNet in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, RadNet presently has a consensus rating of “Buy” and an average target price of $90.00.

About RadNet

RadNet, Inc operates outpatient diagnostic imaging centers in the United States. Its centers provide services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), mammography, ultrasound, X-ray and nuclear medicine imaging.

The company serves patients, physicians and healthcare organizations, with operations across several states, including California, Delaware, Florida, Maryland, New Jersey and New York. Its imaging centers offer diagnostic services for a range of medical needs, from routine screening to specialized examinations.

RadNet also develops digital health and artificial intelligence solutions through its subsidiary DeepHealth, including technology intended to support imaging workflows and assist with image analysis.