BioTelemetry, Inc. (NASDAQ:BEAT) Announces Quarterly Earnings Results
BioTelemetry, Inc. (NASDAQ:BEAT) issued its quarterly earnings results on Tuesday. The medical research company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02, Briefing.com reports. BioTelemetry had a return on equity of 19.87% and a net margin of 22.77%. The company had revenue of $58.10 million for the quarter, compared to the consensus estimate of $58.39 million. During the same quarter in the prior year, the business earned $0.20 EPS. BioTelemetry’s revenue was up 10.2% on a year-over-year basis.
BioTelemetry (NASDAQ BEAT) traded up 0.28% during mid-day trading on Tuesday, reaching $35.25. The company’s stock had a trading volume of 664,371 shares. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.02 and a beta of 0.76. The firm has a 50-day moving average of $32.83 and a 200-day moving average of $28.76. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $36.50.
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In other news, Director Robert J. Rubin sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.14, for a total transaction of $422,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on BEAT shares. Benchmark Co. started coverage on BioTelemetry in a report on Thursday, June 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Zacks Investment Research downgraded BioTelemetry from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. BidaskClub downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Dougherty & Co raised their price target on BioTelemetry from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. One analyst has rated the stock with a hold rating and six 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.
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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