BioTelemetry Inc. (BEAT) Expected to Earn Q3 2016 Earnings of $0.16 Per Share
BioTelemetry Inc. (NASDAQ:BEAT) – Analysts at Lake Street Capital reduced their Q3 2016 earnings per share (EPS) estimates for BioTelemetry in a research report issued to clients and investors on Wednesday. Lake Street Capital analyst B. Jackson now forecasts that the brokerage will post earnings of $0.16 per share for the quarter, down from their previous forecast of $0.18. Lake Street Capital has a “Buy” rating and a $24.00 price objective on the stock. Lake Street Capital also issued estimates for BioTelemetry’s Q4 2016 earnings at $0.16 EPS.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. BioTelemetry had a return on equity of 25.36% and a net margin of 7.11%. The company earned $52.68 million during the quarter, compared to the consensus estimate of $50.27 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. Benchmark Co. raised their price objective on shares of BioTelemetry from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of BioTelemetry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Sidoti began coverage on shares of BioTelemetry in a research note on Tuesday, September 13th. They issued a “buy” rating and a $27.00 price objective on the stock.
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Shares of BioTelemetry (NASDAQ:BEAT) traded down 0.84% during midday trading on Friday, hitting $20.00. The stock had a trading volume of 88,516 shares. The stock has a 50-day moving average of $18.98 and a 200 day moving average of $16.59. The stock has a market cap of $560.50 million, a PE ratio of 42.55 and a beta of 0.73. BioTelemetry has a 52 week low of $8.74 and a 52 week high of $21.68.
Large investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware bought a new stake in BioTelemetry during the second quarter valued at approximately $7,636,000. Acadian Asset Management LLC bought a new stake in BioTelemetry during the second quarter valued at approximately $5,991,000. Emerald Acquisition Ltd. bought a new stake in BioTelemetry during the second quarter valued at approximately $5,074,000. EAM Investors LLC bought a new stake in BioTelemetry during the second quarter valued at approximately $3,459,000. Finally, AJO LP boosted its stake in BioTelemetry by 586.6% in the second quarter. AJO LP now owns 172,637 shares of the company’s stock valued at $2,814,000 after buying an additional 147,493 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Heather C. Getz sold 9,026 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $20.96, for a total value of $189,184.96. Following the sale, the chief financial officer now directly owns 125,819 shares of the company’s stock, valued at approximately $2,637,166.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph H. Capper sold 86,681 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $18.52, for a total transaction of $1,605,332.12. Following the completion of the sale, the insider now directly owns 287,045 shares in the company, valued at $5,316,073.40. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
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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