Radnet Shares Up 23.4% After Better-Than-Expected Earnings (RDNT)
Radnet (NASDAQ:RDNT)’s share price shot up 23.4% on Friday following a stronger than expected earnings report, American Banking and Market News reports. The company traded as high as $7.24 and last traded at $7.07, with a volume of 1,134,268 shares traded. The stock had previously closed at $5.73.
The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $179.10 million for the quarter, compared to the consensus estimate of $176.85 million. The company’s revenue for the quarter was up 1.5% on a year-over-year basis.
Separately, analysts at Deutsche Bank raised their price target on shares of Radnet to $9.00 in a research note on Thursday, June 5th.
The stock has a 50-day moving average of $6.09 and a 200-day moving average of $4.52. The company’s market cap is $286.8 million.
RadNet, Inc (NASDAQ:RDNT) operates a group of regional networks comprising 180 diagnostic imaging facilities located in seven states with operations in California, Maryland, the Treasure Coast area of Florida, Kansas, Delaware, New Jersey and the Finger Lakes (Rochester) and Hudson Valley areas of New York.
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