Boston, MA 05\/13\/2014 (wallstreetpr) \u2013 \u00a0While a solid bottom line achieved during the first quarter has helped RadNet Inc. (NASDAQ:RDNT)<\/b> to fuel a rally, a price target upgrade from the Deutsche bank too complemented the perfect scenario that the company finds itself in.<\/p>\n
Price Target Raised<\/b><\/p>\n
Reportedly, the research firm indicated its optimism about the stock after it raised its price target from $5 to $7 and maintained a ‘buy’ rating on the stock. The revision in the price target comes on the basis of the management’s guarantee to de-leverage and free cash flow growth.<\/p>\n
During the quarter, RadNet Inc. (NASDAQ:RDNT) was able to cut down its loss to just half of what Wall Street had expected. The net loss for the quarter came in at $(0.03) per share as against the market consensus of $(0.06). The company highlighted that its first quarter faced challenges on account of bad weather which negatively impacted its business. The company recorded 1% lesser MRIs and 3% fall in PET\/CT scan as against in the previous year. The revenue for the quarter at $168.9 million missed to come in line with the market consensus of $173.5 million, but the narrowed net loss in the quarter was able to offset the pessimism about lower revenues.<\/p>\n
Raised Guidance<\/b><\/p>\n
In the meanwhile, RadNet Inc. (NASDAQ:RDNT) continues to be positive about its forthcoming quarters, which is reflected through its increased guidance for the year. The company has raised the full year guidance by $2 million in respect to both low and high brackets, which is now in between $112-$122 million. The free cash flow guidance is also raised by $4 million to $34-$44 million. The company keeps its full year revenue guidance unchanged at $700-$730 million.<\/p>\n
The company’s first quarter report clearly came as a sweet surprise to the investors amid a general negative outlook about the company. Resultantly, the shares of RadNet Inc. (NASDAQ:RDNT) jumped along with a three time surge in its volume on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/13\/2014 (wallstreetpr) \u2013 \u00a0While a solid bottom line achieved during the first quarter has helped RadNet Inc. (NASDAQ:RDNT) to fuel a rally, a […]<\/p>\n","protected":false},"author":2,"featured_media":18873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[5066,5065],"stock_ticker":[],"class_list":["post-22029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqrdnt","tag-radnet-inc-nasdaqrdnt","entry"],"acf":[],"yoast_head":"\n