BioTelemetry, Inc. (BEAT) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of BioTelemetry, Inc. (NASDAQ:BEAT) from a buy rating to a strong-buy rating in a research report released on Wednesday.
A number of other research firms have also recently weighed in on BEAT. Benchmark Co. started coverage on BioTelemetry in a report on Thursday, June 29th. They set a buy rating and a $38.00 price target for the company. Zacks Investment Research cut BioTelemetry from a buy rating to a hold rating in a report on Tuesday, April 25th. Dougherty & Co increased their price target on BioTelemetry from $37.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, August 9th. Lake Street Capital reiterated a buy rating and set a $50.00 price target (up from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. Finally, Sidoti reiterated a buy rating and set a $49.00 price target (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. BioTelemetry currently has a consensus rating of Buy and an average target price of $44.40.
BioTelemetry (NASDAQ BEAT) traded up 0.8128% on Wednesday, reaching $36.8975. 163,892 shares of the company’s stock traded hands. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $37.50. The firm has a 50-day moving average price of $34.06 and a 200-day moving average price of $29.55. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 24.7634 and a beta of 0.76.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. On average, analysts predict that BioTelemetry will post $0.99 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its position in shares of BioTelemetry by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,867 shares of the medical research company’s stock worth $598,000 after buying an additional 46 shares during the period. Pinebridge Investments L.P. boosted its position in shares of BioTelemetry by 2.0% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after buying an additional 75 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of BioTelemetry by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the medical research company’s stock worth $391,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in shares of BioTelemetry by 0.7% in the second quarter. Arizona State Retirement System now owns 14,900 shares of the medical research company’s stock worth $498,000 after buying an additional 100 shares during the period. Finally, Renaissance Group LLC boosted its position in shares of BioTelemetry by 2.5% in the second quarter. Renaissance Group LLC now owns 12,405 shares of the medical research company’s stock worth $415,000 after buying an additional 301 shares during the period. Institutional investors own 76.72% of the company’s stock.
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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