Zacks Investment Research Lowers BioTelemetry (BEAT) to Sell

BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Several other research firms have also recently weighed in on BEAT. BidaskClub raised BioTelemetry from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. SunTrust Banks began 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 began 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. Finally, Dougherty & Co reissued a “buy” rating and set a $40.00 price objective on shares of BioTelemetry in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.86.

BioTelemetry (NASDAQ BEAT) traded down $0.90 during midday trading on Thursday, hitting $31.05. The company had a trading volume of 244,922 shares, compared to its average volume of 438,053. BioTelemetry has a fifty-two week low of $23.30 and a fifty-two week high of $39.20. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1,040.00, a PE ratio of 23.70, a PEG ratio of 1.45 and a beta of 0.67.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings data on Tuesday, November 7th. The medical research company reported $0.16 earnings per share 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 business had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.10 million. During the same period in the prior year, the firm posted $0.21 EPS. BioTelemetry’s revenue for the quarter was up 52.7% on a year-over-year basis. sell-side analysts predict that BioTelemetry will post 0.83 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in BioTelemetry by 1.6% during the second quarter. BlackRock Inc. now owns 3,564,879 shares of the medical research company’s stock valued at $119,246,000 after acquiring an additional 55,767 shares during the period. Bank of New York Mellon Corp increased its stake in BioTelemetry by 39.2% during the third quarter. Bank of New York Mellon Corp now owns 1,435,701 shares of the medical research company’s stock valued at $47,379,000 after acquiring an additional 404,107 shares during the period. Hood River Capital Management LLC increased its stake in BioTelemetry by 31.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,190,626 shares of the medical research company’s stock valued at $35,600,000 after acquiring an additional 282,687 shares during the period. State Street Corp increased its stake in BioTelemetry by 2.5% during the second quarter. State Street Corp now owns 756,298 shares of the medical research company’s stock valued at $25,297,000 after acquiring an additional 18,500 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in BioTelemetry by 24.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 538,107 shares of the medical research company’s stock valued at $17,758,000 after acquiring an additional 105,345 shares during the period. Hedge funds and other institutional investors own 84.07% 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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