Off Wall Street started coverage on shares of BioTelemetry, Inc. (NASDAQ:BEAT) in a research report report published on Friday, The Fly reports. The brokerage issued a sell rating on the medical research company’s stock.
A number of other research firms have also issued reports on BEAT. BidaskClub raised shares of BioTelemetry from a buy rating to a strong-buy rating in a research report on Wednesday, August 16th. Sidoti reissued a buy rating and set a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. Dougherty & Co raised their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of BioTelemetry from a hold rating to a strong-buy rating and set a $39.00 price target for the company in a research report on Friday, August 11th. Finally, Lake Street Capital reissued a buy rating and set a $50.00 price target (up from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $44.40.
Shares of BioTelemetry (NASDAQ BEAT) opened at 32.70 on Friday. BioTelemetry has a one year low of $15.25 and a one year high of $39.20. The stock has a market capitalization of $1.06 billion, a PE ratio of 21.95 and a beta of 0.73. The firm’s 50-day moving average is $35.92 and its 200-day moving average is $31.36.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. BioTelemetry’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. On average, analysts expect that BioTelemetry will post $0.99 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Icon Advisers Inc. Co. raised its position in BioTelemetry by 31.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 113,278 shares of the medical research company’s stock worth $3,789,000 after buying an additional 26,891 shares during the last quarter. Renaissance Group LLC raised its position in BioTelemetry by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 12,405 shares of the medical research company’s stock worth $415,000 after buying an additional 301 shares during the last quarter. Fiera Capital Corp purchased a new position in BioTelemetry during the 2nd quarter worth approximately $6,577,000. Credit Suisse AG raised its position in BioTelemetry by 58.2% during the 1st quarter. Credit Suisse AG now owns 57,998 shares of the medical research company’s stock worth $1,679,000 after buying an additional 21,327 shares during the last quarter. Finally, Intrust Bank NA purchased a new position in BioTelemetry during the 2nd quarter worth approximately $250,000. 77.60% of the stock is owned by 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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