BioTelemetry, Inc. (BEAT) Given Consensus Rating of “Buy” by Brokerages
BioTelemetry, Inc. (NASDAQ:BEAT) has been given an average recommendation of “Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $43.50.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research note on Friday, August 11th. Sidoti reiterated a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. SunTrust Banks began coverage on BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 target price on the stock. Off Wall Street began coverage on BioTelemetry in a research note on Friday, September 15th. They issued a “sell” rating on the stock. Finally, BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th.
Several institutional investors have recently bought and sold shares of BEAT. Winslow Evans & Crocker Inc. purchased a new stake in shares of BioTelemetry in the third quarter valued at approximately $109,000. Pinebridge Investments L.P. boosted its stake in shares of BioTelemetry by 2.0% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock valued at $126,000 after buying an additional 75 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of BioTelemetry by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after buying an additional 626 shares in the last quarter. US Bancorp DE purchased a new stake in shares of BioTelemetry in the second quarter valued at approximately $145,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of BioTelemetry by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 5,638 shares of the medical research company’s stock valued at $188,000 after buying an additional 2,508 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Shares of BioTelemetry (NASDAQ:BEAT) traded up $1.25 during midday trading on Thursday, hitting $26.85. The stock had a trading volume of 478,200 shares, compared to its average volume of 472,686. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.75. BioTelemetry has a 1-year low of $19.30 and a 1-year high of $39.20. The firm has a market cap of $829.65, a price-to-earnings ratio of 35.07, a PEG ratio of 1.60 and a beta of 0.58.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.09). The firm had revenue of $81.02 million for the quarter, compared to analysts’ expectations of $82.10 million. BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. sell-side analysts forecast that BioTelemetry will post 0.83 earnings per share for the current year.
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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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