BioTelemetry, Inc. (NASDAQ:BEAT) has earned an average rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $43.67.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded BioTelemetry from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. BidaskClub raised BioTelemetry from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. Finally, Dougherty & Co reaffirmed a “buy” rating and issued a $41.00 target price (up from $40.00) on shares of BioTelemetry in a research note on Friday, February 23rd.
Shares of BioTelemetry (NASDAQ BEAT) traded down $0.20 during mid-day trading on Friday, reaching $33.70. The company’s stock had a trading volume of 321,434 shares, compared to its average volume of 440,119. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1,104.44, a price-to-earnings ratio of -68.67, a P/E/G ratio of 1.67 and a beta of 0.75. BioTelemetry has a 12 month low of $23.30 and a 12 month high of $39.20.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Thursday, February 22nd. The medical research company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The company had revenue of $91.70 million for the quarter, compared to analyst estimates of $88.33 million. BioTelemetry had a positive return on equity of 14.54% and a negative net margin of 5.56%. The firm’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. equities research analysts predict that BioTelemetry will post 1.28 earnings per share for the current year.
In other BioTelemetry news, insider Fred Broadway sold 54,158 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BEAT. State Street Corp increased its stake in shares of BioTelemetry by 2.5% in the 2nd quarter. State Street Corp now owns 756,298 shares of the medical research company’s stock worth $25,297,000 after acquiring an additional 18,500 shares during the last quarter. The Manufacturers Life Insurance Company increased 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 worth $734,000 after purchasing an additional 763 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of BioTelemetry during the 2nd quarter worth about $212,000. Crossmark Global Holdings Inc. acquired a new stake in shares of BioTelemetry during the 3rd quarter worth about $647,000. Finally, Principal Financial Group Inc. increased its position in shares of BioTelemetry by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 252,708 shares of the medical research company’s stock worth $8,339,000 after purchasing an additional 12,010 shares during the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.
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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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