BioTelemetry, Inc. (BEAT) Now Covered by Analysts at Off Wall Street
Investment analysts at Off Wall Street began coverage on shares of BioTelemetry, Inc. (NASDAQ:BEAT) in a research note issued on Friday, The Fly reports. The brokerage set a “sell” rating on the medical research company’s stock.
A number of other brokerages have also recently commented on BEAT. Benchmark Co. initiated coverage on BioTelemetry in a report on Thursday, June 29th. They set a “buy” rating and a $38.00 target price for the company. Dougherty & Co increased their target price on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Lake Street Capital reissued a “buy” rating and set a $50.00 target price (up previously from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. BidaskClub raised BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Sidoti restated a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.40.
Shares of BioTelemetry (NASDAQ:BEAT) traded down 12.5536% during mid-day trading on Friday, hitting $32.4426. 1,076,988 shares of the stock traded hands. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 21.7736 and a beta of 0.73. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $39.20. The firm’s 50-day moving average is $35.96 and its 200-day moving average is $31.31.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.20 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that BioTelemetry will post $0.99 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of BEAT. Teachers Advisors LLC grew its position in shares of BioTelemetry by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock valued at $972,000 after purchasing an additional 1,099 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of BioTelemetry by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical research company’s stock valued at $336,000 after purchasing an additional 300 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of BioTelemetry by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 39,099 shares of the medical research company’s stock valued at $1,130,000 after purchasing an additional 1,227 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of BioTelemetry by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock valued at $15,249,000 after purchasing an additional 24,601 shares in the last quarter. Finally, Comerica Bank grew its position in shares of BioTelemetry by 5.3% in the first quarter. Comerica Bank now owns 31,371 shares of the medical research company’s stock valued at $1,018,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.
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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