Diagnostic imaging company RadNet (NASDAQ: RDNT) will be reporting results this Monday morning. Here’s what you need to know.
RadNet beat analysts’ revenue expectations last quarter, reporting revenues of $547.7 million, up 14.8% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is RadNet a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting RadNet’s revenue to grow 18.6% year on year, improving from the 9.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RadNet has a history of exceeding Wall Street’s expectations.
Looking at RadNet’s peers in the testing & diagnostics services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Guardant Health delivered year-on-year revenue growth of 48.3%, beating analysts’ expectations by 8.4%, and NeoGenomics reported revenues up 11.1%, topping estimates by 1.2%. Guardant Health traded up 3.7% following the results while NeoGenomics’s stock price was unchanged.
Read our full analysis of Guardant Health’s results here and NeoGenomics’s results here.
There has been positive sentiment among investors in the testing & diagnostics services segment, with share prices up 6.1% on average over the last month. RadNet is up 8.7% during the same time and is heading into earnings with an average analyst price target of $89.88 (compared to the current share price of $60.52).
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