Q3 2016 EPS Estimates for BioTelemetry Inc. (BEAT) Cut by Lake Street Capital
BioTelemetry Inc. (NASDAQ:BEAT) – Equities researchers at Lake Street Capital reduced their Q3 2016 earnings estimates for shares of BioTelemetry in a research report issued on Wednesday. Lake Street Capital analyst B. Jackson now expects that the brokerage will post earnings per share of $0.16 for the quarter, down from their previous estimate of $0.18. Lake Street Capital currently has a “Buy” rating and a $24.00 target price on the stock. Lake Street Capital also issued estimates for BioTelemetry’s Q4 2016 earnings at $0.16 EPS.
BEAT has been the subject of a number of other reports. Sidoti assumed coverage on shares of BioTelemetry in a research report on Tuesday, September 13th. They issued a “buy” rating and a $27.00 price objective for the company. Benchmark Co. upped their price objective on shares of BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Wednesday.
Shares of BioTelemetry (NASDAQ:BEAT) opened at 20.20 on Friday. The firm has a market capitalization of $566.11 million, a P/E ratio of 42.98 and a beta of 0.73. The firm’s 50-day moving average is $18.95 and its 200 day moving average is $16.64. BioTelemetry has a 12 month low of $8.74 and a 12 month high of $21.68.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm earned $52.68 million during the quarter, compared to the consensus estimate of $50.27 million. BioTelemetry had a net margin of 7.11% and a return on equity of 25.36%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share.
In other news, CFO Heather C. Getz sold 9,026 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $20.96, for a total transaction of $189,184.96. Following the completion of the transaction, the chief financial officer now directly owns 125,819 shares of the company’s stock, valued at approximately $2,637,166.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph H. Capper sold 86,681 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $18.52, for a total transaction of $1,605,332.12. Following the transaction, the insider now directly owns 287,045 shares of the company’s stock, valued at $5,316,073.40. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEAT. Mckinley Capital Management LLC Delaware bought a new position in BioTelemetry during the second quarter worth $7,636,000. Acadian Asset Management LLC bought a new position in BioTelemetry during the second quarter worth $5,991,000. Emerald Acquisition Ltd. bought a new position in BioTelemetry during the second quarter worth $5,074,000. EAM Investors LLC bought a new position in BioTelemetry during the second quarter worth $3,459,000. Finally, AJO LP increased its position in BioTelemetry by 586.6% in the second quarter. AJO LP now owns 172,637 shares of the company’s stock worth $2,814,000 after buying an additional 147,493 shares in the last quarter. 78.28% 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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