RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 334 owned and/or operated outpatient imaging centers. RadNet's core markets include California, Maryland, Delaware, New Jersey, New York and Arizona. In addition, RadNet provides radiology information technology solutions, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of approximately 8,600 employees.

Company profile
Ticker
RDNT
Exchange
Website
CEO
Howard Berger
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
PRIMEDEX HEALTH SYSTEMS INC
SEC CIK
Corporate docs
Subsidiaries
Radnet Managed Imaging Services, Inc. • Radnet Management, Inc. • Radnet Management I, Inc. • Radnet Management II, Inc. • Radnet Sub, Inc. • Beach Imaging Group, LLC • Diagnostic Village, LLC • FRI II, Inc. • FRI, Inc. • Glendale Advanced Imaging Center, LLC ...
IRS number
133326724
RDNT stock data
Press releases
Open System Imaging Deploys eRAD RIS
9 Aug 22
RadNet Reports Second Quarter Financial Results and Reaffirms 2022 Financial Guidance Ranges
9 Aug 22
RadNet, Inc. Announces Date of its Second Quarter 2022 Financial Results Conference Call
25 Jul 22
RadNet, Inc. to Present at the Jefferies 2022 Global Healthcare Conference on June 8, 2022
6 Jun 22
RadNet Artificial Intelligence Subsidiaries, DeepHealth and Quantib, Obtain FDA Clearance for Mammography and Prostate AI Tools
16 May 22
Calendar
10 May 22
12 Aug 22
31 Dec 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 70.71M | 70.71M | 70.71M | 70.71M | 70.71M | 70.71M |
Cash burn (monthly) | 21.3M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 94.03M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | -23.31M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | -1.1 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
8 Jun 22 | Swartz David L | Common Stock | Grant | Acquire A | No | No | 0 | 6,269 | 0 | 237,410 |
8 Jun 22 | Levitt Lawrence L | Common Stock | Grant | Acquire A | No | No | 0 | 6,269 | 0 | 201,000 |
8 Jun 22 | Laura Pastre Jacobs | Common Stock | Grant | Acquire A | No | No | 0 | 6,269 | 0 | 17,651 |
8 Jun 22 | Gregory E. Spurlock | Common Stock | Grant | Acquire A | No | No | 0 | 6,269 | 0 | 10,268 |
1 Jun 22 | Hames Norman R | Common Stock | Sell | Dispose S | No | No | 20.531 | 10,000 | 205.31K | 280,179 |
Institutional ownership, Q1 2022
67.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 163 |
Opened positions | 11 |
Closed positions | 20 |
Increased positions | 73 |
Reduced positions | 49 |
13F shares | Current |
---|---|
Total value | 848.33M |
Total shares | 37.84M |
Total puts | 80.5K |
Total calls | 78.6K |
Total put/call ratio | 1.0 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 6.42M | $143.69M |
Vanguard | 3.26M | $73.02M |
Beck Mack & Oliver | 2.69M | $60.08M |
JB Capital Partners | 2.09M | $46.84M |
Edmond De Rothschild Holding | 1.7M | $37.93M |
STT State Street | 1.52M | $33.98M |
Dimensional Fund Advisors | 1.49M | $33.38M |
Global Alpha Capital Management | 1.39M | $31.17M |
American Century Companies | 1.06M | $23.67M |
FMR | 1.01M | $22.58M |
Financial report summary
?Risks
- If our contracted radiology practices terminate their agreements with us, our business could substantially diminish.
- If our contracted radiology practices, including the Group, lose a significant number of their radiologists, our financial results could be adversely affected.
- Our ability to generate revenue depends in large part on referrals from physicians.
- We may become subject to professional malpractice liability, which could be costly and negatively impact our reputation and business.
- We may not receive payment from some of our healthcare provider customers because of their financial circumstances.
- Capitation fee arrangements could reduce our operating margins.
- Changes in the method or rates of third-party reimbursement could have a negative impact on our results
- Disruption or malfunction in our information systems could adversely affect our business.
- Technological change in our industry could reduce the demand for our services and require us to incur significant costs to upgrade our equipment.
- We face various risks related to health epidemics and other outbreaks, which may have a material adverse effect on our business, financial condition, results of operations and cash flows.
- We experience competition from other diagnostic imaging companies and hospitals, and this competition could adversely affect our revenue and business.
- Our success depends in part on our key personnel and loss of key executives could adversely affect our operations.
- Our failure to successfully, and in a timely manner, integrate acquired businesses and/or new lines of businesses could reduce our profitability.
- We may not be able to successfully grow our business, which would adversely affect our financial condition and results of operations.
- A restriction in our ability to make capital expenditures would restrict our growth and could adversely affect our business.
- The regulatory framework in which we operate is uncertain and evolving.
- We may be impacted by eligibility changes to government and private insurance programs.
- State and federal anti-kickback and anti-self-referral laws may adversely affect income.
- Complying with federal and state regulations is an expensive and time-consuming process, and any failure to comply could result in substantial penalties.
- If we fail to comply with various licensure, certification and accreditation standards, we may be subject to loss of licensure, certification or accreditation, which would adversely affect our operations.
- Our agreements with the contracted radiology practices must be structured to avoid the corporate practice of medicine and fee-splitting.
- Some of our imaging modalities use radioactive materials, which generate regulated waste and could subject us to liabilities for injuries or violations of environmental and health and safety laws.
- Adverse changes in general domestic and worldwide economic conditions and instability and disruption of credit markets could adversely affect our operating results, financial condition, or liquidity.
- Business disruptions and interruptions due to external events beyond our control can adversely affect our business, financial condition or results of operations.
- Possible volatility in our stock price could negatively affect us and our stockholders.
- Our substantial debt could adversely affect our financial condition and prevent us from fulfilling our obligations under our outstanding indebtedness.
- We may not be able to finance future needs or adapt our business plan to changes because of restrictions placed on us by our credit facilities and instruments governing our other indebtedness.
- Our business could be adversely impacted if there are deficiencies in our disclosure controls and procedures or internal control over financial reporting.
- We are subject to tax audits, challenges to our tax positions, or adverse changes or interpretations of tax laws.
- We may be required to recognize an impairment of our goodwill or other indefinite-lived intangible assets, which could have an adverse effect on our financial position and results of operations.
- Because we have high fixed costs, lower scan volumes per system could adversely affect our business.
- Provisions of the Delaware General Corporation Law and our organizational documents may discourage an acquisition of us.
Management Discussion
- ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our unaudited condensed consolidated financial statements and notes thereto included in Part I, Item 1 of this Quarterly Report on Form 10-Q and with our audited consolidated financial statements and notes thereto for the year ended December 31, 2021 included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (SEC) on March 1, 2022.
- .
Content analysis
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Readability |
H.S. sophomore Avg
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New words:
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Removed:
accompany, advance, aimed, amounting, approach, assume, authorized, beneficial, Berger, Beverly, BRMG, canceled, caption, certification, choice, citizen, collaborative, collectability, complementary, computerized, concentrating, consumption, convenience, cumulative, declining, digital, Director, display, distribute, downturn, Dr, duly, duration, evaluating, exhibit, experiencing, Extensible, field, filing, forfeited, formation, formatted, fourth, furnished, half, hereof, Hologic, Howard, implemented, incorporated, incorporation, independent, initiating, Inline, insurer, intensified, interaction, Interactive, intraperiod, invasive, invest, ix, John, language, lead, lowered, Mark, methodology, mid, negotiating, obtaining, onset, owner, Page, physician, President, recession, reducing, registrant, regularly, remained, repair, rescheduled, responsible, retain, retrieve, returned, revise, sale, saving, speak, Stolper, store, strain, successful, technology, telecommuting, test, testing, thereunto, traffic, ultimate, unavailability, undersigned, unnecessary, unprecedented, update, Ventura, vi, vii, viii, work, workforce, XBRL
Financial reports
Current reports
8-K/A
Results of Operations and Financial Condition
12 Aug 22
8-K
RadNet Reports Second Quarter Financial Results and Reaffirms 2022 Financial Guidance Ranges
10 Aug 22
8-K
Submission of Matters to a Vote of Security Holders
10 Jun 22
8-K
Results of Operations and Financial Condition
9 May 22
8-K
RadNet Reports Fourth Quarter 2021 Results and Releases 2022 Financial Guidance
1 Mar 22
8-K
Other Events
28 Jan 22
8-K
Unregistered Sales of Equity Securities
24 Jan 22
8-K
Results of Operations and Financial Condition
9 Nov 21
8-K
Results of Operations and Financial Condition
9 Aug 21
8-K
Departure of Directors or Certain Officers
14 Jun 21
Registration and prospectus
424B7
Prospectus with selling stockholder info
2 Feb 22
424B7
Prospectus with selling stockholder info
2 Feb 22
S-8
Registration of securities for employees
2 Jul 21
S-8
Registration of securities for employees
2 Jun 20
S-3ASR
Automatic shelf registration
26 Dec 19
S-8
Registration of securities for employees
8 Aug 17
S-8
Registration of securities for employees
11 Aug 15
S-3
Shelf registration
29 Dec 14
S-8
Registration of securities for employees
14 Aug 11
424B3
Prospectus supplement
17 Jan 11
Other
CT ORDER
Confidential treatment order
4 Dec 16
EFFECT
Notice of effectiveness
7 Jan 15
UPLOAD
Letter from SEC
17 Nov 13
CORRESP
Correspondence with SEC
12 Nov 13
UPLOAD
Letter from SEC
29 Oct 13
CORRESP
Correspondence with SEC
10 Oct 13
CORRESP
Correspondence with SEC
30 Sep 13
UPLOAD
Letter from SEC
19 Sep 13
EFFECT
Notice of effectiveness
12 Jan 11
CORRESP
Correspondence with SEC
10 Jan 11
Ownership
4
RadNet / GREGORY E. SPURLOCK ownership change
2 Aug 22
4
RadNet / Laura Pastre Jacobs ownership change
2 Aug 22
4
RadNet / Lawrence L Levitt ownership change
2 Aug 22
4
RadNet / DAVID L SWARTZ ownership change
2 Aug 22
4
RadNet / Christine Nayoma Gordon ownership change
2 Jun 22
4
RadNet / NORMAN R HAMES ownership change
2 Jun 22
4
RadNet / NORMAN R HAMES ownership change
25 May 22
SC 13G/A
RadNet / VANGUARD ownership change
9 Feb 22
SC 13G/A
RadNet / BlackRock ownership change
27 Jan 22
SC 13G/A
RadNet / BlackRock ownership change
25 Jan 22
Transcripts
2022 Q1
Earnings call transcript
9 May 22
2021 Q4
Earnings call transcript
1 Mar 22
2021 Q3
Earnings call transcript
8 Nov 21
2021 Q2
Earnings call transcript
9 Aug 21
2021 Q1
Earnings call transcript
10 May 21
2020 Q4
Earnings call transcript
8 Mar 21
2020 Q3
Earnings call transcript
9 Nov 20
2020 Q2
Earnings call transcript
10 Aug 20
2020 Q1
Earnings call transcript
11 May 20
2019 Q4
Earnings call transcript
12 Mar 20
Reddit threads
Daily Discussion Thread - August 9th, 2022
9 Aug 22
(5/9) Monday's Pre-Market Stock Movers & News
9 May 22
Daily Discussion Thread - May 9th, 2022
9 May 22
Daily Discussion Thread - May 6th, 2022
6 May 22
Daily Discussion Thread - March 1st, 2022
1 Mar 22
Daily Discussion Thread - February 28th, 2022
28 Feb 22
Most anticipated earnings releases for the week beginning February 28, 2022
26 Feb 22
Most Anticipated Earnings Releases for the week beginning February 28th, 2022
26 Feb 22
r/Stocks Daily Discussion & Technicals Tuesday - Nov 09, 2021
9 Nov 21
(11/8) Monday's Pre-Market Stock Movers & News
8 Nov 21