Shares of BioTelemetry, Inc. (NASDAQ:BEAT) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $44.40.
BEAT has been the subject of a number of recent analyst reports. Sidoti reaffirmed a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. Dougherty & Co upped their price target on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Benchmark Co. upped their price target on BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price target (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of BioTelemetry by 1.6% in the 2nd quarter. BlackRock Inc. now owns 3,564,879 shares of the medical research company’s stock valued at $119,246,000 after purchasing an additional 55,767 shares during the period. Vanguard Group Inc. grew its position in shares of BioTelemetry by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 1,674,580 shares of the medical research company’s stock valued at $48,480,000 after purchasing an additional 174,844 shares during the period. Renaissance Technologies LLC grew its position in shares of BioTelemetry by 13.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,247,045 shares of the medical research company’s stock valued at $36,102,000 after purchasing an additional 147,745 shares during the period. Bank of New York Mellon Corp grew its position in shares of BioTelemetry by 95.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,031,594 shares of the medical research company’s stock valued at $34,506,000 after purchasing an additional 504,869 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of BioTelemetry by 28.7% in the 1st quarter. Wellington Management Group LLP now owns 1,009,507 shares of the medical research company’s stock valued at $29,225,000 after purchasing an additional 225,407 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Shares of BioTelemetry (BEAT) traded up 2.10% on Friday, hitting $31.65. 775,547 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $35.68 and its 200 day moving average price is $31.50. BioTelemetry has a 1-year low of $15.25 and a 1-year high of $39.20. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 21.24 and a beta of 0.73.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company 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%. BioTelemetry’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. On average, equities research analysts expect that BioTelemetry will post $0.99 earnings per share for the current year.
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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