BioTelemetry, Inc. (NASDAQ:BEAT) gapped down prior to trading on Monday . The stock had previously closed at $29.30, but opened at $32.70. BioTelemetry shares last traded at $30.90, with a volume of 1,335,064 shares traded.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a report on Friday, August 11th. Sidoti restated a “buy” rating and issued a $49.00 target price (up previously from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Off Wall Street assumed coverage on shares of BioTelemetry in a research note on Friday, September 15th. They set a “sell” rating on the stock. Finally, Lake Street Capital reiterated a “buy” rating and set a $50.00 price target (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.40.
The firm has a market cap of $969.18 million, a price-to-earnings ratio of 20.10 and a beta of 0.73. The firm has a 50-day moving average of $35.68 and a 200 day moving average of $31.50.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $58.10 million for the quarter, compared to analyst estimates of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, equities analysts forecast that BioTelemetry, Inc. will post $0.99 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in BEAT. BlackRock Inc. increased its stake in shares of BioTelemetry by 69,017.8% in the first quarter. BlackRock Inc. now owns 3,509,112 shares of the medical research company’s stock worth $101,587,000 after acquiring an additional 3,504,035 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of BioTelemetry in the second quarter worth $26,694,000. Russell Investments Group Ltd. increased its stake in shares of BioTelemetry by 115.2% in the second quarter. Russell Investments Group Ltd. now owns 970,162 shares of the medical research company’s stock worth $32,453,000 after acquiring an additional 519,267 shares during the period. Bank of New York Mellon Corp increased its stake in shares of BioTelemetry by 95.9% in the second quarter. Bank of New York Mellon Corp now owns 1,031,594 shares of the medical research company’s stock worth $34,506,000 after acquiring an additional 504,869 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in shares of BioTelemetry in the second quarter worth $14,720,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.
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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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