FY2017 Earnings Estimate for RadNet, Inc. (RDNT) Issued By Jefferies Group
RadNet, Inc. (NASDAQ:RDNT) – Equities researchers at Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for shares of RadNet in a note issued to investors on Thursday. Jefferies Group analyst B. Tanquilut now expects that the medical research company will earn $0.35 per share for the year, down from their prior estimate of $0.36. Jefferies Group currently has a “Buy” rating and a $12.00 target price on the stock. Jefferies Group also issued estimates for RadNet’s Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.15 EPS and Q4 2018 earnings at $0.18 EPS.
A number of other research analysts have also weighed in on RDNT. BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research note on Thursday, August 24th. Finally, Zacks Investment Research lowered shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th.
RadNet (NASDAQ RDNT) opened at $10.00 on Monday. RadNet has a fifty-two week low of $5.25 and a fifty-two week high of $11.90. The company has a debt-to-equity ratio of 9.45, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $476.24, a price-to-earnings ratio of 33.33 and a beta of 0.87.
RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. RadNet had a net margin of 1.21% and a return on equity of 25.60%. 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 firm posted $0.11 earnings per share. RadNet’s revenue for the quarter was up 1.3% compared to the same quarter last year.
In other RadNet news, VP Mark Stolper sold 10,000 shares of RadNet stock in a transaction on Wednesday, August 30th. The shares were 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 directly owns 145,319 shares of the company’s stock, valued at $1,480,800.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen M. Forthuber sold 18,500 shares of RadNet stock in a transaction on Monday, August 21st. The stock was sold at an average price of $8.38, for a total transaction of $155,030.00. Following the transaction, the insider now directly owns 406,922 shares of the company’s stock, valued at $3,410,006.36. The disclosure for this sale can be found here. Insiders have sold 1,236,900 shares of company stock valued at $13,452,504 over the last ninety days. 9.36% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of RadNet by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after purchasing an additional 112,194 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of RadNet by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after purchasing an additional 51,229 shares during the last quarter. State Street Corp lifted its position in shares of RadNet by 9.2% during the second quarter. State Street Corp now owns 585,218 shares of the medical research company’s stock worth $4,538,000 after purchasing an additional 49,186 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of RadNet by 85.7% during the third quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock worth $5,795,000 after purchasing an additional 232,524 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of RadNet by 5.2% during the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after purchasing an additional 21,746 shares during the last quarter. Institutional investors and hedge funds own 48.61% of the company’s stock.
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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