BioTelemetry, Inc. (BEAT) Receives Average Rating of “Buy” from Analysts
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $44.40.
A number of brokerages have recently issued reports on BEAT. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Sidoti reaffirmed a “buy” rating and issued a $49.00 target price (up previously from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Off Wall Street initiated coverage on shares of BioTelemetry in a report on Friday. They issued a “sell” rating on the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. Finally, Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a report on Friday, August 11th.
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Large investors have recently modified their holdings of the business. Pinebridge Investments L.P. grew its holdings in BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of BioTelemetry by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after purchasing an additional 626 shares during the last quarter. Dubuque Bank & Trust Co. bought a new position in shares of BioTelemetry in the 2nd quarter valued at about $142,000. US Bancorp DE bought a new position in shares of BioTelemetry in the 2nd quarter valued at about $145,000. Finally, FNY Partners Fund LP bought a new position in shares of BioTelemetry in the 1st quarter valued at about $142,000. 78.15% of the stock is currently owned by hedge funds and other institutional investors.
BioTelemetry (NASDAQ:BEAT) traded down 11.86% on Friday, hitting $32.70. 2,668,811 shares of the stock traded hands. The stock has a 50-day moving average of $35.92 and a 200-day moving average of $31.36. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 21.95 and a beta of 0.73. BioTelemetry has a 12-month low of $15.25 and a 12-month high of $39.20.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. During the same quarter in the prior year, the company posted $0.20 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that BioTelemetry will post $0.99 earnings per share for the current 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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