BioTelemetry, Inc. (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday.

According to Zacks, “BioTelemetry, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual’s health. It is focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders. BioTelemetry, Inc., formerly known as CardioNet, Inc., is headquartered in Conshohocken, Pennsylvania. “

Other equities research analysts also recently issued research reports about the company. Off Wall Street initiated coverage on BioTelemetry in a research report on Friday, September 15th. They set a “sell” rating for the company. Raymond James Financial, Inc. initiated coverage on BioTelemetry in a research report on Thursday, October 26th. They set an “outperform” rating and a $37.00 price target for the company. SunTrust Banks, Inc. initiated coverage on BioTelemetry in a research report on Monday, October 23rd. They set a “buy” rating and a $41.00 price target for the company. Benchmark Co. boosted their price target on BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Dougherty & Co boosted their price target on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $42.86.

BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm 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%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share.

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A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in shares of BioTelemetry by 5.0% in the third quarter. Principal Financial Group Inc. now owns 252,708 shares of the medical research company’s stock worth $8,339,000 after buying an additional 12,010 shares during the period. AlphaMark Advisors LLC purchased a new stake in shares of BioTelemetry in the third quarter worth about $1,006,000. Concorde Asset Management LLC boosted its position in shares of BioTelemetry by 43.2% in the third quarter. Concorde Asset Management LLC now owns 35,813 shares of the medical research company’s stock worth $1,182,000 after buying an additional 10,799 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of BioTelemetry in the third quarter worth about $647,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of BioTelemetry by 65.7% in 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 buying an additional 4,157 shares during the period. 77.73% of the stock is owned by hedge funds and other 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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