Zacks: BioTelemetry Inc. (NASDAQ:BEAT) Receives Average Recommendation of “Strong Buy” from Analysts
BioTelemetry Inc. (NASDAQ:BEAT) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price objective of $24.50 for the company and are forecasting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also given BioTelemetry an industry rank of 164 out of 265 based on the ratings given to related companies.
Several equities analysts have recently weighed in on the company. Sidoti assumed coverage on BioTelemetry in a research note on Tuesday, September 13th. They issued a “buy” rating and a $27.00 price objective on the stock. Benchmark Co. boosted their price target on BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered BioTelemetry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th.
In other BioTelemetry news, SVP Fred Broadway sold 3,146 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $17.84, for a total value of $56,124.64. Following the transaction, the senior vice president now directly owns 37,886 shares of the company’s stock, valued at approximately $675,886.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph H. Capper sold 26,847 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $18.23, for a total value of $489,420.81. Following the completion of the transaction, the insider now directly owns 189,838 shares in the company, valued at $3,460,746.74. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in BEAT. DIAM Co. Ltd. acquired a new position in shares of BioTelemetry during the second quarter worth about $133,000. Acrospire Investment Management LLC raised its position in shares of BioTelemetry by 147.9% in the second quarter. Acrospire Investment Management LLC now owns 8,214 shares of the company’s stock worth $134,000 after buying an additional 4,900 shares during the last quarter. Springbok Capital Management LLC acquired a new position in shares of BioTelemetry during the first quarter worth about $146,000. Bank of Montreal Can acquired a new position in shares of BioTelemetry during the second quarter worth about $164,000. Finally, BlackRock Inc. raised its position in shares of BioTelemetry by 691.2% in the second quarter. BlackRock Inc. now owns 11,448 shares of the company’s stock worth $187,000 after buying an additional 10,001 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.
Shares of BioTelemetry (NASDAQ:BEAT) traded down 0.27% during trading on Monday, reaching $18.52. 48,179 shares of the company’s stock traded hands. The stock has a market capitalization of $519.02 million, a PE ratio of 39.40 and a beta of 0.73. The company has a 50 day moving average price of $19.15 and a 200 day moving average price of $16.38. BioTelemetry has a 1-year low of $8.74 and a 1-year high of $21.42.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $52.68 million for the quarter, compared to analyst estimates of $50.27 million. BioTelemetry had a return on equity of 25.36% and a net margin of 7.11%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, equities analysts forecast that BioTelemetry will post $0.76 EPS for the current fiscal year.
BioTelemetry Company Profile
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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