Revenue Update on RadNet(NASDAQ:RDNT)

RadNet(NASDAQ:RDNT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $224.60M. Analysts estimated a revenue of $220.09M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.04.

In a different note, Sterne Agee CRT said it Initiates Coverage on RadNet, according to a research note issued on Jun 2, 2016. The shares have been rated ‘Neutral’ by the firm.

RadNet (RDNT) made into the market gainers list on Wednesdays trading session with the shares advancing 1.31% or 0.08 points. Due to strong positive momentum, the stock ended at $6.2, which is also near the day’s high of $6.21. The stock began the session at $6.17 and the volume stood at 1,06,825 shares. The 52-week high of the shares is $7.6 and the 52 week low is $4.66. The company has a current market capitalization of $288 M and it has 4,64,32,404 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 21, 2016, Stephen M Forthuber (Executive Vice President) sold 29,000 shares at $5.21 per share price.Also, 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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