$81.43 Million in Sales Expected for BioTelemetry, Inc. (BEAT) This Quarter
Brokerages predict that BioTelemetry, Inc. (NASDAQ:BEAT) will post $81.43 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for BioTelemetry’s earnings. The lowest sales estimate is $80.21 million and the highest is $82.64 million. BioTelemetry reported sales of $53.06 million in the same quarter last year, which indicates a positive year over year growth rate of 53.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that BioTelemetry will report full-year sales of $81.43 million for the current financial year, with estimates ranging from $283.33 million to $286.09 million. For the next financial year, analysts forecast that the firm will report sales of $385.21 million per share, with estimates ranging from $378.94 million to $396.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BioTelemetry.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $58.10 million during the quarter, compared to analyst estimates of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. BioTelemetry’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share.
BEAT has been the subject of several research analyst reports. Off Wall Street initiated coverage on BioTelemetry in a report on Friday, September 15th. They set a “sell” rating for the company. SunTrust Banks, Inc. initiated coverage on BioTelemetry in a report on Monday, October 23rd. They set a “buy” rating and a $41.00 price target for the company. Benchmark Co. raised their price target on BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a report on Friday, August 11th. Finally, Dougherty & Co raised their price target on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. BioTelemetry presently has a consensus rating of “Buy” and an average price target of $42.86.
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Several institutional investors have recently made changes to their positions in BEAT. Winslow Evans & Crocker Inc. purchased a new position in shares of BioTelemetry in the 3rd quarter worth approximately $109,000. Pinebridge Investments L.P. boosted its holdings in shares of BioTelemetry by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after purchasing an additional 75 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of BioTelemetry by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock worth $140,000 after purchasing an additional 626 shares during the period. FNY Partners Fund LP purchased a new position in shares of BioTelemetry in the 1st quarter worth approximately $142,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of BioTelemetry in the 2nd quarter worth approximately $142,000. Hedge funds and other institutional investors own 77.40% of the company’s stock.
Shares of BioTelemetry (BEAT) opened at 29.55 on Friday. The firm has a 50-day moving average price of $33.02 and a 200 day moving average price of $32.35. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $39.20. The stock has a market cap of $956.24 million, a price-to-earnings ratio of 19.83 and a beta of 0.68.
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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