RadNet (RDNT) Set to Announce Earnings on Monday

RadNet (NASDAQ:RDNT - Get Free Report) will be posting its quarterly earnings results before the market opens on Monday, November 11th. Analysts expect RadNet to post earnings of $0.15 per share for the quarter. RadNet has set its FY 2024 guidance at EPS.Individual interested in listening to the company's earnings conference call can do so using this link.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analysts' expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, analysts expect RadNet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RadNet Price Performance

Shares of NASDAQ RDNT traded up $1.45 during midday trading on Monday, reaching $67.99. 525,128 shares of the stock traded hands, compared to its average volume of 543,084. The company's 50 day moving average is $66.94 and its 200 day moving average is $61.36. RadNet has a one year low of $28.27 and a one year high of $72.18. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $5.03 billion, a PE ratio of 485.64 and a beta of 1.75.

Insiders Place Their Bets

In other news, EVP Michael N. Murdock sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the transaction, the executive vice president now owns 48,144 shares of the company's stock, valued at approximately $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Barclays raised RadNet from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. Sidoti upgraded RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Truist Financial lifted their target price on RadNet from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, RadNet presently has an average rating of "Moderate Buy" and an average target price of $74.75.

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.