BioTelemetry Inc. (BEAT) Trading Up 1.9%
Shares of BioTelemetry Inc. (NASDAQ:BEAT) were up 1.9% during mid-day trading on Thursday . The stock traded as high as $18.88 and last traded at $18.83, with a volume of 179,830 shares changing hands. The stock had previously closed at $18.47.
Several analysts recently issued reports on BEAT shares. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, August 4th. Benchmark Co. boosted their price target on shares of BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd.
The stock has a 50 day moving average price of $19.50 and a 200 day moving average price of $15.43. The firm has a market cap of $524.07 million and a P/E ratio of 39.79.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm earned $52.68 million during the quarter, compared to analyst estimates of $50.27 million. During the same period last year, the company posted $0.12 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts anticipate that BioTelemetry Inc. will post $0.76 EPS for the current fiscal year.
In related news, SVP Fred Broadway sold 12,121 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $19.07, for a total transaction of $231,147.47. Following the sale, the senior vice president now owns 71,719 shares of the company’s stock, valued at $1,367,681.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph H. Capper sold 22,298 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $20.85, for a total value of $464,913.30. Following the sale, the chief executive officer now directly owns 546,559 shares in the company, valued at approximately $11,395,755.15. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in BioTelemetry stock. Wells Fargo & Company MN increased its position in shares of BioTelemetry Inc. (NASDAQ:BEAT) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994,163 shares of the company’s stock after buying an additional 119,328 shares during the period. Wells Fargo & Company MN owned 3.65% of BioTelemetry worth $11,612,000 as of its most recent SEC filing.
BioTelemetry, Inc (BioTelemetry), formerly CardioNet, Inc, provides cardiac monitoring services, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. The Company operates in three segments: patient services, product and research services. The patient services business segment’s principal focus is on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders, through its core Mobile Cardiac Outpatient Telemetry(MCOT), event and Holter services in a healthcare setting.
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