BioTelemetry Inc (NASDAQ:BEAT) – Investment analysts at SunTrust Banks upped their Q2 2019 EPS estimates for shares of BioTelemetry in a note issued to investors on Thursday, November 29th. SunTrust Banks analyst B. Nudell now expects that the medical research company will post earnings of $0.48 per share for the quarter, up from their previous estimate of $0.47. SunTrust Banks has a “Buy” rating and a $67.00 price objective on the stock. SunTrust Banks also issued estimates for BioTelemetry’s Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $1.94 EPS, FY2020 earnings at $1.96 EPS and FY2021 earnings at $1.79 EPS.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, October 30th. The medical research company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.21. BioTelemetry had a net margin of 4.34% and a return on equity of 22.56%. The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $97.89 million. During the same period in the prior year, the business earned $0.16 earnings per share. BioTelemetry’s quarterly revenue was up 23.5% on a year-over-year basis.
A number of other equities analysts have also issued reports on the stock. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 23rd. Raymond James reduced their target price on shares of BioTelemetry from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. BioTelemetry presently has a consensus rating of “Buy” and an average target price of $61.17.
Shares of BEAT stock opened at $70.94 on Monday. BioTelemetry has a 1 year low of $25.50 and a 1 year high of $72.94. The company has a market cap of $2.36 billion, a PE ratio of 73.13, a P/E/G ratio of 3.95 and a beta of 1.58. The company has a current ratio of 2.68, a quick ratio of 2.50 and a debt-to-equity ratio of 0.66.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in BioTelemetry by 2.8% in the third quarter. Vanguard Group Inc. now owns 1,900,117 shares of the medical research company’s stock valued at $122,462,000 after buying an additional 52,363 shares during the period. Morgan Stanley lifted its holdings in BioTelemetry by 3.8% in the third quarter. Morgan Stanley now owns 273,614 shares of the medical research company’s stock valued at $17,633,000 after buying an additional 9,995 shares during the period. Legal & General Group Plc lifted its holdings in BioTelemetry by 13.0% in the third quarter. Legal & General Group Plc now owns 70,046 shares of the medical research company’s stock valued at $4,488,000 after buying an additional 8,060 shares during the period. Teachers Advisors LLC lifted its holdings in BioTelemetry by 1.9% in the third quarter. Teachers Advisors LLC now owns 69,213 shares of the medical research company’s stock valued at $4,461,000 after buying an additional 1,260 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new position in BioTelemetry in the third quarter valued at approximately $572,000. Institutional investors and hedge funds own 92.16% of the company’s stock.
In related news, SVP Peter Ferola sold 75,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $60.61, for a total value of $4,545,750.00. Following the transaction, the senior vice president now directly owns 90,065 shares in the company, valued at $5,458,839.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Rubin sold 8,489 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $60.36, for a total transaction of $512,396.04. Following the completion of the transaction, the director now owns 140,040 shares in the company, valued at $8,452,814.40. The disclosure for this sale can be found here. Insiders have sold 174,852 shares of company stock worth $10,995,097 over the last quarter. 9.60% of the stock is owned by company insiders.
BioTelemetry Company Profile
BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.
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