BioTelemetry, Inc. (NASDAQ:BEAT) fell 0% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $24.15 and last traded at $25.50. 2,361,147 shares were traded during trading, an increase of 418% from the average session volume of 455,851 shares. The stock had previously closed at $25.50.

The medical research company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.09). BioTelemetry had a return on equity of 16.66% and a net margin of 16.10%. The company had revenue of $81.02 million for the quarter, compared to the consensus estimate of $82.10 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 52.7% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Friday, August 11th. Sidoti restated a “buy” rating and set a $49.00 target price (up from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. assumed coverage on shares of BioTelemetry in a research report on Monday, October 23rd. They set a “buy” rating and a $41.00 target price on the stock. Finally, Off Wall Street assumed coverage on shares of BioTelemetry in a research report on Friday, September 15th. They set a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $42.86.

Several large investors have recently made changes to their positions in BEAT. Principal Financial Group Inc. raised its position in shares of BioTelemetry by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 231,087 shares of the medical research company’s stock valued at $6,690,000 after acquiring an additional 8,926 shares during the period. Teachers Advisors LLC raised its position in shares of BioTelemetry by 7.6% in the 1st quarter. Teachers Advisors LLC now owns 46,786 shares of the medical research company’s stock valued at $1,354,000 after acquiring an additional 3,297 shares during the period. California Public Employees Retirement System raised its position in shares of BioTelemetry by 2.0% in the 1st quarter. California Public Employees Retirement System now owns 98,800 shares of the medical research company’s stock valued at $2,860,000 after acquiring an additional 1,900 shares during the period. Thrivent Financial For Lutherans raised its position in shares of BioTelemetry by 5.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,390 shares of the medical research company’s stock valued at $474,000 after acquiring an additional 900 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of BioTelemetry by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 1,674,580 shares of the medical research company’s stock valued at $48,480,000 after acquiring an additional 174,844 shares during the period. Institutional investors and hedge funds own 77.76% of the company’s stock.

The stock has a market capitalization of $826.41, a PE ratio of 36.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.58. The company has a current ratio of 2.03, a quick ratio of 1.91 and a debt-to-equity ratio of 0.16.

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About BioTelemetry

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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