BioTelemetry, Inc. (NASDAQ:BEAT) – Equities research analysts at SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for BioTelemetry in a report issued on Thursday. SunTrust Banks analyst M. Keeler forecasts that the medical research company will earn $0.30 per share for the quarter. SunTrust Banks also issued estimates for BioTelemetry’s Q2 2019 earnings at $0.35 EPS and Q4 2019 earnings at $0.40 EPS.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of BioTelemetry from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 19th. Zacks Investment Research downgraded shares of BioTelemetry from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Dougherty & Co reaffirmed a “buy” rating and issued a $41.00 price objective (up from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. BioTelemetry currently has an average rating of “Buy” and a consensus target price of $43.00.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Thursday, February 22nd. The medical research company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. BioTelemetry had a negative net margin of 5.56% and a positive return on equity of 14.54%. The business had revenue of $91.70 million during the quarter, compared to the consensus estimate of $88.33 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s quarterly revenue was up 69.8% compared to the same quarter last year.
In other BioTelemetry news, insider Fred Broadway sold 54,158 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total value of $1,850,578.86. Following the completion of the sale, the insider now directly owns 64,880 shares of the company’s stock, valued at approximately $2,216,949.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of BioTelemetry by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,949 shares of the medical research company’s stock valued at $734,000 after acquiring an additional 763 shares during the period. Comerica Bank grew its position in shares of BioTelemetry by 3.2% during the 4th quarter. Comerica Bank now owns 51,106 shares of the medical research company’s stock valued at $1,778,000 after acquiring an additional 1,591 shares during the period. Campbell Newman Asset Management Inc. grew its position in shares of BioTelemetry by 21.5% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 10,134 shares of the medical research company’s stock valued at $303,000 after acquiring an additional 1,796 shares during the period. Mckinley Capital Management LLC Delaware grew its position in shares of BioTelemetry by 1.5% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 157,795 shares of the medical research company’s stock valued at $5,207,000 after acquiring an additional 2,407 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of BioTelemetry by 2.6% during the 3rd 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. 87.64% of the stock is owned by hedge funds and other institutional investors.
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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