BioTelemetry, Inc. to Post Q3 2017 Earnings of $0.27 Per Share, Dougherty & Co Forecasts (BEAT)
BioTelemetry, Inc. (NASDAQ:BEAT) – Analysts at Dougherty & Co reduced their Q3 2017 earnings estimates for shares of BioTelemetry in a research note issued to investors on Wednesday. Dougherty & Co analyst G. Mannheimer now forecasts that the medical research company will post earnings per share of $0.27 for the quarter, down from their previous estimate of $0.28. Dougherty & Co has a “Buy” rating and a $40.00 price target on the stock. Dougherty & Co also issued estimates for BioTelemetry’s FY2017 earnings at $0.99 EPS.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share 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 last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis.
A number of other analysts also recently commented on BEAT. Sidoti reissued a “buy” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. BidaskClub raised BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Raymond James Financial, Inc. began coverage on BioTelemetry in a research note on Thursday, October 26th. They issued an “outperform” rating and a $37.00 price objective on the stock. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a research note on Friday, August 11th. Finally, SunTrust Banks, Inc. began coverage on BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $42.86.
Several institutional investors and hedge funds have recently bought and sold shares of BEAT. Concorde Asset Management LLC raised its position in shares of BioTelemetry by 43.2% during the third quarter. Concorde Asset Management LLC now owns 35,813 shares of the medical research company’s stock worth $1,182,000 after purchasing an additional 10,799 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of BioTelemetry during the third quarter worth $647,000. Raymond James Financial Services Advisors Inc. raised its position in shares of BioTelemetry by 65.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,489 shares of the medical research company’s stock worth $346,000 after purchasing an additional 4,157 shares during the period. Strs Ohio raised its position in shares of BioTelemetry by 130.8% during the third quarter. Strs Ohio now owns 142,400 shares of the medical research company’s stock worth $4,699,000 after purchasing an additional 80,700 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of BioTelemetry by 38.1% during the third quarter. LS Investment Advisors LLC now owns 10,085 shares of the medical research company’s stock worth $333,000 after purchasing an additional 2,783 shares during the period. 77.73% of the stock is currently owned by institutional investors.
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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