BioTelemetry Inc. (BEAT) Stock Rating Reaffirmed by Lake Street Capital
BioTelemetry Inc. (NASDAQ:BEAT)‘s stock had its “buy” rating reissued by research analysts at Lake Street Capital in a research note issued on Wednesday. They presently have a $24.00 price objective on the stock. Lake Street Capital’s price target suggests a potential upside of 18.99% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Benchmark Co. upped their target price on BioTelemetry from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research lowered BioTelemetry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Sidoti began coverage on BioTelemetry in a research note on Tuesday, September 13th. They issued a “buy” rating and a $27.00 target price on the stock.
BioTelemetry (NASDAQ:BEAT) opened at 20.17 on Wednesday. The stock has a market capitalization of $565.26 million, a price-to-earnings ratio of 42.91 and a beta of 0.73. The stock’s 50 day moving average price is $18.98 and its 200 day moving average price is $16.59. BioTelemetry has a 52-week low of $8.74 and a 52-week high of $21.68.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. BioTelemetry had a return on equity of 25.36% and a net margin of 7.11%. The firm had revenue of $52.68 million for the quarter, compared to analyst estimates of $50.27 million. During the same quarter in the prior year, the company earned $0.12 EPS. BioTelemetry’s revenue was up 17.6% on a year-over-year basis. On average, analysts forecast that BioTelemetry will post $0.76 EPS for the current year.
In other BioTelemetry news, CFO Heather C. Getz sold 9,026 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $20.96, for a total value of $189,184.96. Following the completion of the transaction, the chief financial officer now directly owns 125,819 shares in the company, valued at approximately $2,637,166.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph H. Capper sold 22,298 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $20.85, for a total value of $464,913.30. Following the completion of the transaction, the chief executive officer now owns 546,559 shares of the company’s stock, valued at $11,395,755.15. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. DIAM Co. Ltd. purchased a new stake in BioTelemetry during the second quarter worth approximately $133,000. Acrospire Investment Management LLC increased its stake in BioTelemetry by 147.9% in the second quarter. Acrospire Investment Management LLC now owns 8,214 shares of the company’s stock worth $134,000 after buying an additional 4,900 shares during the last quarter. Springbok Capital Management LLC purchased a new stake in BioTelemetry during the first quarter worth approximately $146,000. Bank of Montreal Can purchased a new stake in BioTelemetry during the second quarter worth approximately $164,000. Finally, BlackRock Inc. increased its stake in BioTelemetry by 691.2% in the second quarter. BlackRock Inc. now owns 11,448 shares of the company’s stock worth $187,000 after buying an additional 10,001 shares during the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.
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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