BioTelemetry, Inc. (BEAT) Expected to Earn FY2017 Earnings of $1.00 Per Share
BioTelemetry, Inc. (NASDAQ:BEAT) – Investment analysts at Dougherty & Co issued their FY2017 earnings per share estimates for BioTelemetry in a research note issued to investors on Thursday. Dougherty & Co analyst G. Mannheimer anticipates that the medical research company will earn $1.00 per share for the year. Dougherty & Co has a “Buy” rating and a $40.00 price objective on the stock.
BEAT has been the subject of several other research reports. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, May 2nd. Sidoti reiterated a “buy” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Finally, Benchmark Co. lifted their price target on shares of BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. BioTelemetry currently has a consensus rating of “Buy” and an average price target of $44.40.
BioTelemetry (NASDAQ BEAT) opened at 35.70 on Monday. The company’s 50-day moving average is $34.26 and its 200-day moving average is $29.69. The firm has a market cap of $1.16 billion, a PE ratio of 23.96 and a beta of 0.76. BioTelemetry has a one year low of $15.25 and a one year high of $37.50.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share.
Hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new stake in BioTelemetry during the second quarter valued at about $207,000. Castleark Management LLC acquired a new stake in BioTelemetry during the second quarter valued at about $11,806,000. Raymond James Financial Services Advisors Inc. acquired a new stake in BioTelemetry during the second quarter valued at about $212,000. The Manufacturers Life Insurance Company increased its stake in BioTelemetry by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,949 shares of the medical research company’s stock valued at $734,000 after buying an additional 763 shares during the last quarter. Finally, State Street Corp increased its stake in BioTelemetry by 2.5% in the second quarter. State Street Corp now owns 756,298 shares of the medical research company’s stock valued at $25,297,000 after buying an additional 18,500 shares during the last quarter. 76.72% of the stock is owned by institutional investors and hedge funds.
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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