BioTelemetry (NASDAQ:BEAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $51.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.38% from the stock’s current price.
According to Zacks, “BioTelemetry, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual’s health. It is focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders. BioTelemetry, Inc., formerly known as CardioNet, Inc., is headquartered in Conshohocken, Pennsylvania. “
Several other brokerages have also issued reports on BEAT. Benchmark increased their price target on BioTelemetry from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, June 20th. TheStreet upgraded BioTelemetry from a “c” rating to a “b-” rating in a report on Tuesday, May 29th. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Finally, ValuEngine upgraded BioTelemetry from a “hold” rating to a “buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.14.
BioTelemetry opened at $44.20 on Tuesday, according to Marketbeat Ratings. BioTelemetry has a one year low of $23.30 and a one year high of $47.35. The company has a market cap of $1.48 billion, a P/E ratio of 45.57, a price-to-earnings-growth ratio of 3.39 and a beta of 0.85. The company has a quick ratio of 1.83, a current ratio of 1.96 and a debt-to-equity ratio of 0.77.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Wednesday, April 25th. The medical research company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.23 by $0.16. BioTelemetry had a positive return on equity of 16.63% and a negative net margin of 3.13%. The business had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $91.55 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue was up 69.1% on a year-over-year basis. research analysts predict that BioTelemetry will post 1.33 EPS for the current fiscal year.
In other news, CEO Joseph H. Capper sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $43.86, for a total value of $8,772,000.00. Following the transaction, the chief executive officer now owns 233,276 shares in the company, valued at $10,231,485.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter Ferola sold 67,370 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $40.42, for a total value of $2,723,095.40. The disclosure for this sale can be found here. Insiders sold 478,604 shares of company stock worth $20,065,817 in the last 90 days. Corporate insiders own 8.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. American International Group Inc. lifted its holdings in shares of BioTelemetry by 11.4% in the fourth quarter. American International Group Inc. now owns 25,139 shares of the medical research company’s stock valued at $752,000 after purchasing an additional 2,568 shares in the last quarter. Millrace Asset Group Inc. lifted its holdings in shares of BioTelemetry by 103.9% in the fourth quarter. Millrace Asset Group Inc. now owns 80,664 shares of the medical research company’s stock valued at $2,411,000 after purchasing an additional 41,100 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of BioTelemetry by 8,866.8% in the fourth quarter. Macquarie Group Ltd. now owns 756,263 shares of the medical research company’s stock valued at $22,612,000 after purchasing an additional 747,829 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BioTelemetry by 180.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,434 shares of the medical research company’s stock valued at $880,000 after purchasing an additional 18,945 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of BioTelemetry by 223.7% in the fourth quarter. Arizona State Retirement System now owns 51,670 shares of the medical research company’s stock valued at $1,545,000 after purchasing an additional 35,710 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.
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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