Shares of BioTelemetry, Inc. (NASDAQ:BEAT) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $43.50.
Several research analysts recently issued reports on the company. BidaskClub upgraded BioTelemetry from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 19th. SunTrust Banks assumed coverage on BioTelemetry in a research report on Monday, October 23rd. They set a “buy” rating and a $41.00 price objective for the company. Raymond James Financial assumed coverage on BioTelemetry in a research report on Thursday, October 26th. They set an “outperform” rating and a $37.00 price objective for the company. Dougherty & Co restated a “buy” rating and set a $40.00 price objective on shares of BioTelemetry in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded BioTelemetry from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 2nd.
Institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. raised its stake in BioTelemetry by 2.0% during the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares during the period. Nationwide Fund Advisors lifted its stake in BioTelemetry by 2.1% during the 2nd quarter. Nationwide Fund Advisors now owns 15,877 shares of the medical research company’s stock valued at $531,000 after acquiring an additional 328 shares in the last quarter. Victory Capital Management Inc. lifted its stake in BioTelemetry by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 626 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in BioTelemetry by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,949 shares of the medical research company’s stock valued at $734,000 after acquiring an additional 763 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in BioTelemetry by 5.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,220 shares of the medical research company’s stock valued at $576,000 after acquiring an additional 830 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.09). BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The firm had revenue of $81.02 million for the quarter, compared to analysts’ expectations of $82.10 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. research analysts forecast that BioTelemetry will post 0.83 EPS for the current fiscal year.
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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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