RadNet (RDNT) Releases Earnings Results, Misses Expectations By $-0.05 EPS

RadNet (RDNT) reported quarterly earnings results on Tuesday, May-10-2016. The company reported $-0.04 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $0.01. The company posted revenue of $216.40 million in the period, compared to analysts expectations of $205.01 million. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on RadNet. Sidoti Initiated RadNet on Apr 15, 2016 to “Buy”, Price Target of the shares are set at $9.

RadNet opened for trading at $5.27 and hit $5.5 on the upside on Friday, eventually ending the session at $5.47, with a gain of 2.82% or 0.15 points. The heightened volatility saw the trading volume jump to 2,27,899 shares. Company has a market cap of $258 M.

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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