Short Interest in BioTelemetry Rises By 34.1% (BEAT)
Shares of BioTelemetry (NASDAQ:BEAT) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 882,708 shares, an increase of 34.1% from the April 15th total of 658,192 shares, American Banking and Market News reports. Based on an average daily volume of 292,945 shares, the days-to-cover ratio is presently 3.0 days. Approximately 3.5% of the shares of the stock are short sold.
In other BioTelemetry news, Director Ronald Ahrens bought 6,000 shares of BioTelemetry stock on the open market in a transaction dated Friday, May 9th. The stock was purchased at an average price of $7.37 per share, with a total value of $44,220.00. Following the completion of the purchase, the director now directly owns 187,629 shares of the company’s stock, valued at approximately $1,382,826. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of BioTelemetry from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $9.40 price target on the stock. Separately, analysts at Dougherty & Co reiterated a “buy” rating on shares of BioTelemetry in a research note on Wednesday, April 16th. Finally, analysts at TheStreet upgraded shares of BioTelemetry from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $12.80.
Shares of BioTelemetry (NASDAQ:BEAT) opened at 6.92 on Tuesday. BioTelemetry has a 52 week low of $2.71 and a 52 week high of $11.98. The stock’s 50-day moving average is $8.54 and its 200-day moving average is $9.01. The company’s market cap is $182.6 million.
BioTelemetry (NASDAQ:BEAT) last released its earnings data on Tuesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.02) by $0.02. The company had revenue of $37.16 million for the quarter, compared to the consensus estimate of $38.40 million. BioTelemetry’s revenue was up 14.6% compared to the same quarter last year. Analysts expect that BioTelemetry will post $-0.10 EPS for the current fiscal year.
BioTelemetry, Inc (NASDAQ:BEAT), formerly CardioNet, Inc, provides cardiac monitoring services, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.