BioTelemetry, Inc. (BEAT) Now Covered by Off Wall Street
Equities research analysts at Off Wall Street started coverage on shares of BioTelemetry, Inc. (NASDAQ:BEAT) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the medical research company’s stock.
A number of other equities research analysts also recently weighed in on BEAT. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Sidoti reiterated a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Dougherty & Co lifted their target price on BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a report on Friday, August 11th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $50.00 target price (up from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $44.40.
BioTelemetry (NASDAQ:BEAT) opened at 32.70 on Friday. The company has a 50 day moving average price of $35.92 and a 200 day moving average price of $31.36. The firm has a market capitalization 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 issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. Analysts anticipate that BioTelemetry will post $0.99 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of BEAT. Teachers Advisors LLC increased its holdings in BioTelemetry by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock worth $972,000 after purchasing an additional 1,099 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in BioTelemetry by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical research company’s stock valued at $336,000 after acquiring an additional 300 shares during the period. Great West Life Assurance Co. Can grew its stake in BioTelemetry by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 39,099 shares of the medical research company’s stock valued at $1,130,000 after acquiring an additional 1,227 shares during the period. Bank of New York Mellon Corp grew its stake in BioTelemetry by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock valued at $15,249,000 after acquiring an additional 24,601 shares during the period. Finally, Comerica Bank grew its stake in BioTelemetry by 5.3% in the first quarter. Comerica Bank now owns 31,371 shares of the medical research company’s stock valued at $1,018,000 after acquiring an additional 1,568 shares during the period. Institutional investors and hedge funds own 78.15% of the company’s stock.
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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