RadNet (NASDAQ:RDNT) Releases Earnings Results, Beats Expectations By $0.04 EPS

RadNet (NASDAQ:RDNT) announced its quarterly earnings data on Monday. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04, FiscalAI reports. The business had revenue of $547.71 million during the quarter, compared to analyst estimates of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share.

RadNet Price Performance

Shares of NASDAQ:RDNT opened at $69.81 on Monday. The business has a 50-day moving average of $71.66 and a two-hundred day moving average of $74.36. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. RadNet has a fifty-two week low of $45.00 and a fifty-two week high of $85.84. The stock has a market capitalization of $5.39 billion, a P/E ratio of -410.62 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RDNT. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a report on Monday, December 29th. Truist Financial set a $90.00 price target on RadNet in a research report on Wednesday, December 17th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. KeyCorp raised RadNet to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RDNT. AQR Capital Management LLC raised its holdings in RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of RadNet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock valued at $1,956,000 after purchasing an additional 1,699 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 1,448 shares in the last quarter. United Services Automobile Association bought a new position in RadNet in the first quarter worth $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock worth $21,904,000 after buying an additional 8,762 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.