Zacks Investment Research Upgrades BioTelemetry (BEAT) to “Hold”

BioTelemetry (NASDAQ:BEAT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday.

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 analysts also recently issued research reports about the stock. BidaskClub upgraded shares of BioTelemetry from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Dougherty & Co reiterated a “buy” rating and issued a $40.00 target price on shares of BioTelemetry in a research note on Wednesday, November 8th. Raymond James Financial assumed coverage on shares of BioTelemetry in a research note on Thursday, October 26th. They issued an “outperform” rating and a $37.00 target price for the company. Finally, SunTrust Banks assumed coverage on shares of BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $42.86.

BioTelemetry (NASDAQ:BEAT) traded up $0.60 during midday trading on Monday, reaching $34.15. 363,764 shares of the company were exchanged, compared to its average volume of 461,905. BioTelemetry has a 1-year low of $21.60 and a 1-year high of $39.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.48. The stock has a market capitalization of $1,090.00, a P/E ratio of 26.07, a PEG ratio of 1.49 and a beta of 0.53.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings data on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.09). BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The company had revenue of $81.02 million for the quarter, compared to analysts’ expectations of $82.10 million. During the same quarter last year, the business posted $0.21 EPS. The business’s quarterly revenue was up 52.7% on a year-over-year basis. research analysts predict that BioTelemetry will post 0.83 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in shares of BioTelemetry by 11.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 140,634 shares of the medical research company’s stock worth $4,205,000 after purchasing an additional 13,962 shares in the last quarter. Summit Creek Advisors LLC boosted its position in shares of BioTelemetry by 11.9% in the fourth quarter. Summit Creek Advisors LLC now owns 380,062 shares of the medical research company’s stock valued at $11,364,000 after acquiring an additional 40,366 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of BioTelemetry in the fourth quarter valued at approximately $412,000. Thomson Horstmann & Bryant Inc. bought a new position in shares of BioTelemetry in the fourth quarter valued at approximately $4,112,000. Finally, California Public Employees Retirement System boosted its position in shares of BioTelemetry by 2.6% in the third quarter. California Public Employees Retirement System now owns 101,347 shares of the medical research company’s stock valued at $3,344,000 after acquiring an additional 2,547 shares during the period. Hedge funds and other institutional investors own 82.92% of the company’s stock.

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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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