BioTelemetry (BEAT) Raised to Buy at BidaskClub

BidaskClub upgraded shares of BioTelemetry (NASDAQ:BEAT) from a hold rating to a buy rating in a research note released on Wednesday morning.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of BioTelemetry from a hold rating to a sell rating in a report on Thursday, February 8th. Dougherty & Co reissued a buy rating and issued a $40.00 price target on shares of BioTelemetry in a report on Wednesday, November 8th. SunTrust Banks assumed coverage on shares of BioTelemetry in a report on Monday, October 23rd. They issued a buy rating and a $41.00 price target on the stock. Finally, Raymond James Financial assumed coverage on shares of BioTelemetry in a report on Thursday, October 26th. They issued an outperform rating and a $37.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. BioTelemetry currently has an average rating of Buy and a consensus price target of $42.86.

Shares of BioTelemetry (NASDAQ:BEAT) opened at $34.25 on Wednesday. The stock has a market cap of $1,090.00, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.75. BioTelemetry has a fifty-two week low of $23.30 and a fifty-two week high of $39.20.

Institutional investors have recently made changes to their positions in the business. Teachers Advisors LLC boosted its stake in shares of BioTelemetry by 9.6% in the 2nd quarter. Teachers Advisors LLC now owns 51,293 shares of the medical research company’s stock valued at $1,716,000 after purchasing an additional 4,507 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of BioTelemetry by 2.1% in the 2nd quarter. Nationwide Fund Advisors now owns 15,877 shares of the medical research company’s stock valued at $531,000 after purchasing an additional 328 shares in the last quarter. BlackRock Inc. boosted its stake in shares of BioTelemetry by 1.6% in the 2nd quarter. BlackRock Inc. now owns 3,564,879 shares of the medical research company’s stock valued at $119,246,000 after purchasing an additional 55,767 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of BioTelemetry in the 2nd quarter valued at $208,000. Finally, Northern Trust Corp boosted its stake in shares of BioTelemetry by 7.8% in the 2nd quarter. Northern Trust Corp now owns 409,982 shares of the medical research company’s stock valued at $13,714,000 after purchasing an additional 29,644 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

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About BioTelemetry

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.

Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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