RadNet (RDNT) is Initiated by Sidoti to Buy, Price Target at $9

RadNet (RDNT) was Initiated by Sidoti to “Buy” and the brokerage firm has set the Price Target at $9. Sidoti advised their investors in a research report released on Apr 15, 2016.

On the company’s financial health, RadNet reported $0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Mar 14, 2016. Analyst had a consensus of $0.17. The company had revenue of $215.70 million for the quarter, compared to analysts expectations of $206.23 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

RadNet closed down -0.12 points or -2.44% at $4.8 with 84,756 shares getting traded on Monday. Post opening the session at $4.93, the shares hit an intraday low of $4.79 and an intraday high of $5.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 21, 2016, Stephen M Forthuber (Executive Vice President) sold 29,000 shares at $5.21 per share price. According to the SEC, on Dec 16, 2015, Michael N Murdock (Executive Vice President) sold 72,861 shares at $6.10 per share price. On Dec 3, 2015, Mark Stolper (Executive VP and CFO) sold 19,187 shares at $6.18 per share price, according to the Form-4 filing with the securities and exchange commission.

RadNet Inc. is engaged in providing freestanding fixed-site outpatient diagnostic imaging services in the United States. The Company has a network of around 293 owned and/or operated outpatient imaging centers including around 74 facilities in the greater New York Metropolitan area. Its core markets include California Maryland Delaware New Jersey New York and Rhode Island. The Company’s centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company’s services include magnetic resonance imaging (MRI) computed tomography (CT) positron emission tomography (PET) nuclear medicine mammography ultrasound diagnostic radiology (X-ray) fluoroscopy and other related procedures. The Company has around 213 MRI systems 125 CT systems 44 PET or combination PET/CT systems 274 X-ray systems 392 ultrasound systems 44 nuclear medicine systems 226 mammography systems and 168 fluoroscopy systems in operation.


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