BioTelemetry, Inc. (BEAT) Upgraded to “Strong-Buy” at BidaskClub
BioTelemetry, Inc. (NASDAQ:BEAT) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
Other equities research analysts have also recently issued reports about the company. Sidoti reiterated a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Lake Street Capital restated a “buy” rating and set a $50.00 price objective (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Dougherty & Co upped their price objective on BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Friday, August 11th. Finally, Benchmark Co. initiated coverage on BioTelemetry in a research note on Thursday, June 29th. They set a “buy” rating and a $38.00 price objective for the company. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $44.40.
Shares of BioTelemetry (BEAT) traded up 0.14% during trading on Wednesday, hitting $36.60. The stock had a trading volume of 289,828 shares. BioTelemetry has a 12 month low of $15.25 and a 12 month high of $37.50. The company has a market cap of $1.18 billion, a P/E ratio of 24.56 and a beta of 0.76. The stock has a 50-day moving average price of $34.06 and a 200 day moving average price of $29.55.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, August 8th. 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. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The business had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. During the same period in the prior year, the business earned $0.20 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that BioTelemetry will post $0.99 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the company. 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 worth $126,000 after buying an additional 75 shares during the period. 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 worth $140,000 after buying an additional 626 shares during the period. FNY Partners Fund LP bought a new stake in shares of BioTelemetry during the first quarter worth $142,000. Dubuque Bank & Trust Co. bought a new stake in shares of BioTelemetry during the second quarter worth $142,000. Finally, US Bancorp DE bought a new stake in shares of BioTelemetry during the second quarter worth $145,000. Hedge funds and other institutional investors own 76.72% 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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