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RadNet, Inc. (RDNT) provides outpatient diagnostic imaging services in the United States.
Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.
The company also develops and sells computerized systems for the imaging industry, including picture archiving communications systems; and provides teleradiology services for remote interpretation of images on behalf of radiology groups, hospitals, and imaging center customers.
As of March 14, 2019, it had a network of 344 owned and/or operated outpatient imaging centers primarily in California, Maryland, Delaware, New Jersey, and New York.
Shares have formed a bullish "cup and handle" and higher share prices are expected. On November 12th, Radnet (RDNT) reported 3rd Quarter September 2019 earnings of $0.08 per share on revenue of $292.7 million. The consensus earnings estimate was $0.11 per share on revenue of $285.0 million. Revenue grew 20.9% on a year-over-year basis.
The company said it continues to expect 2019 revenue of $1.10 billion to $1.15 billion. The current consensus estimate is revenue of $1.13 billion for the year ending December 31, 2019.
Entry Point: $20.40
Trading Range: $10.6946 to $20.80
Stop Loss: $19.35
Target Price: $22.45
RDNT closed at $22.50
