BioTelemetry Inc. (BEAT) Sets New 12-Month High at $19.24
BioTelemetry Inc. (NASDAQ:BEAT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $19.24 and last traded at $18.80, with a volume of 959,065 shares trading hands. The stock had previously closed at $17.34.
Separately, Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, April 28th.
The stock’s 50-day moving average is $16.64 and its 200 day moving average is $13.55. The company has a market cap of $521.34 million and a P/E ratio of 47.32.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. During the same period in the previous year, the firm posted $0.06 EPS. The company earned $48.60 million during the quarter, compared to analysts’ expectations of $46.54 million. BioTelemetry’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that BioTelemetry Inc. will post $0.71 EPS for the current fiscal year.
A number of large investors recently modified their holdings of BEAT. Dimensional Fund Advisors LP raised its stake in shares of BioTelemetry by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,317,266 shares of the company’s stock valued at $15,386,000 after buying an additional 98,737 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of BioTelemetry by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 994,163 shares of the company’s stock valued at $11,612,000 after buying an additional 119,328 shares during the last quarter. Royce & Associates LLC raised its stake in shares of BioTelemetry by 102.2% in the fourth quarter. Royce & Associates LLC now owns 606,700 shares of the company’s stock valued at $7,086,000 after buying an additional 306,700 shares during the last quarter. 1492 Capital Management LLC raised its stake in shares of BioTelemetry by 11.4% in the fourth quarter. 1492 Capital Management LLC now owns 321,761 shares of the company’s stock valued at $3,758,000 after buying an additional 32,932 shares during the last quarter. Finally, Russell Frank Co raised its stake in shares of BioTelemetry by 58.9% in the fourth quarter. Russell Frank Co now owns 249,457 shares of the company’s stock valued at $2,933,000 after buying an additional 92,455 shares during the last quarter.
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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