RadNet (RDNT) shares ended the last trading session 5.9% higher at $63.73. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18% loss over the past four weeks.

The recent surge in RDNT shares can be attributed to positive market sentiment surrounding the company’s strong financial performance and growth potential. With impressive revenue growth and consistent positive net income, investors are optimistic about RadNet’s ongoing expansion in the healthcare sector. The company’s solid Q3 results, along with increasing demand for its diagnostic services, have contributed to heightened investor confidence. Additionally, RadNet’s strategic investments in advanced imaging technologies and its expanding network of imaging centers position the company for long-term success. As a result, investors are anticipating continued growth in earnings and revenue, which is expected to drive the stock’s upward momentum in the coming quarters.

This operator of medical diagnostic imaging centers is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -20%. Revenues are expected to be $464.31 million, up 10.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For RadNet, the consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RDNT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

RadNet is part of the Zacks Medical - Outpatient and Home Healthcare industry. Astrana Health, Inc. (ASTH), another stock in the same industry, closed the last trading session 2.4% higher at $38.02. ASTH has returned 10.9% in the past month.

For Astrana Health, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. This represents a change of -65.4% from what the company reported a year ago. Astrana Health, Inc. currently has a Zacks Rank of #4 (Sell).

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