Stock analysts at Benchmark Co. began coverage on shares of BioTelemetry, Inc. (NASDAQ:BEAT) in a research note issued to investors on Thursday, June 29th. The firm set a “buy” rating and a $38.00 price target on the medical research company’s stock. Benchmark Co.’s price target points to a potential upside of 9.20% from the stock’s previous close.
Several other analysts have also recently issued reports on BEAT. Dougherty & Co increased their price target on shares of BioTelemetry from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Zacks Investment Research cut shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.20.
Shares of BioTelemetry (NASDAQ BEAT) traded up 1.90% during midday trading on Thursday, reaching $34.80. 290,357 shares of the company were exchanged. The firm has a market capitalization of $997.19 million, a P/E ratio of 21.74 and a beta of 0.76. The firm has a 50-day moving average of $32.19 and a 200 day moving average of $28.37. BioTelemetry has a 52 week low of $15.25 and a 52 week high of $35.75.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings results on Wednesday, May 3rd. The medical research company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business had revenue of $55.88 million for the quarter, compared to analysts’ expectations of $55.11 million. BioTelemetry had a net margin of 22.77% and a return on equity of 19.87%. On average, equities research analysts expect that BioTelemetry will post $0.88 EPS for the current year.
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In related news, Director Robert J. Rubin sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $28.14, for a total value of $422,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Sigma Planning Corp purchased a new stake in shares of BioTelemetry during the first quarter valued at $316,000. Concorde Asset Management LLC purchased a new stake in shares of BioTelemetry during the first quarter valued at $285,000. Summit Creek Advisors LLC boosted its stake in shares of BioTelemetry by 17.8% in the first quarter. Summit Creek Advisors LLC now owns 272,566 shares of the medical research company’s stock valued at $7,891,000 after buying an additional 41,184 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of BioTelemetry by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical research company’s stock valued at $336,000 after buying an additional 300 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of BioTelemetry by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock valued at $972,000 after buying an additional 1,099 shares during the period. 80.01% of the stock is currently owned by hedge funds and other institutional investors.
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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