BioTelemetry, Inc. (BEAT) Price Target Increased to $44.00 by Analysts at Benchmark Co.
BioTelemetry, Inc. (NASDAQ:BEAT) had its price objective upped by research analysts at Benchmark Co. from $38.00 to $44.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the medical research company’s stock. Benchmark Co.’s price objective would suggest a potential upside of 26.80% from the stock’s current price.
A number of other equities research analysts have also recently commented on BEAT. Lake Street Capital restated a “buy” rating and issued a $50.00 price target (up from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Finally, Dougherty & Co raised their price target on shares of BioTelemetry from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.20.
Shares of BioTelemetry (NASDAQ:BEAT) traded up 0.86% during mid-day trading on Wednesday, hitting $35.00. 25,871 shares of the company were exchanged. BioTelemetry has a 12-month low of $15.25 and a 12-month high of $35.40. The firm has a market capitalization of $1.00 billion, a P/E ratio of 21.86 and a beta of 0.76. The company’s 50-day moving average price is $30.81 and its 200-day moving average price is $27.78.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Wednesday, May 3rd. The medical research company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. BioTelemetry had a net margin of 22.77% and a return on equity of 19.87%. The firm had revenue of $55.88 million during the quarter, compared to analysts’ expectations of $55.11 million. Equities research analysts predict that BioTelemetry will post $0.89 earnings per share for the current fiscal year.
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In related news, Director Robert J. Rubin sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $28.14, for a total transaction of $422,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.60% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. FNY Partners Fund LP purchased a new position in shares of BioTelemetry during the first quarter valued at approximately $142,000. State of Alaska Department of Revenue boosted its position 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. Municipal Employees Retirement System of Michigan purchased a new position in shares of BioTelemetry during the third quarter valued at approximately $109,000. Mason Street Advisors LLC boosted its position in shares of BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock valued at $192,000 after buying an additional 465 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of BioTelemetry by 525.8% in the first quarter. LS Investment Advisors LLC now owns 7,385 shares of the medical research company’s stock valued at $214,000 after buying an additional 6,205 shares in the last quarter. 79.75% of the stock is owned by institutional investors.
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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