BioTelemetry, Inc. (BEAT) Receives Consensus Rating of “Buy” from Analysts
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) have been given an average rating of “Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $44.40.
A number of brokerages have issued reports on BEAT. Sidoti reissued a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. BidaskClub raised BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Dougherty & Co upped their target price 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 raised BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Friday, August 11th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $50.00 target price (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th.
BioTelemetry (NASDAQ BEAT) traded down 1.07% during midday trading on Wednesday, reaching $32.25. 259,842 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 21.22 and a beta of 0.68. The firm’s 50 day moving average is $34.70 and its 200 day moving average is $32.17. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $39.20.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $58.39 million. During the same period in the previous year, the company posted $0.20 earnings per share. BioTelemetry’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that BioTelemetry will post $0.99 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of BEAT. Pinebridge Investments L.P. raised its stake in BioTelemetry by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock valued at $126,000 after purchasing an additional 75 shares during the last quarter. Victory Capital Management Inc. raised its stake in BioTelemetry by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after purchasing an additional 626 shares during the last quarter. FNY Partners Fund LP acquired a new position in BioTelemetry in the 1st quarter valued at $142,000. Dubuque Bank & Trust Co. acquired a new position in BioTelemetry in the 2nd quarter valued at $142,000. Finally, US Bancorp DE acquired a new position in BioTelemetry in the 2nd quarter valued at $145,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
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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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