Analysts Anticipate BioTelemetry Inc (BEAT) Will Post Quarterly Sales of $97.92 Million

Equities research analysts expect BioTelemetry Inc (NASDAQ:BEAT) to announce sales of $97.92 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for BioTelemetry’s earnings. The lowest sales estimate is $97.79 million and the highest is $98.00 million. BioTelemetry posted sales of $81.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.9%. The company is expected to issue its next earnings report on Tuesday, November 6th.

On average, analysts expect that BioTelemetry will report full-year sales of $394.21 million for the current fiscal year, with estimates ranging from $393.28 million to $394.75 million. For the next year, analysts anticipate that the firm will report sales of $434.53 million, with estimates ranging from $432.33 million to $438.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for BioTelemetry.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Wednesday, July 25th. The medical research company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.15. The firm had revenue of $101.36 million during the quarter, compared to analysts’ expectations of $95.87 million. BioTelemetry had a negative net margin of 0.39% and a positive return on equity of 18.02%. BioTelemetry’s revenue for the quarter was up 74.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share.

A number of research analysts have weighed in on the stock. Raymond James boosted their target price on shares of BioTelemetry from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. SunTrust Banks boosted their target price on shares of BioTelemetry to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Lake Street Capital boosted their target price on shares of BioTelemetry from $50.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Benchmark boosted their target price on shares of BioTelemetry from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Finally, Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, June 26th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $61.50.

BioTelemetry stock traded up $1.90 on Monday, reaching $63.30. 489,700 shares of the stock were exchanged, compared to its average volume of 386,221. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 63.81, a P/E/G ratio of 4.07 and a beta of 1.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.29 and a quick ratio of 2.12. BioTelemetry has a twelve month low of $23.30 and a twelve month high of $63.74.

In other BioTelemetry news, Director Kirk E. Gorman sold 625 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $62.30, for a total transaction of $38,937.50. Following the completion of the transaction, the director now owns 173,940 shares of the company’s stock, valued at approximately $10,836,462. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel Wisniewski sold 31,000 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $60.45, for a total transaction of $1,873,950.00. Following the transaction, the senior vice president now directly owns 57,291 shares of the company’s stock, valued at approximately $3,463,240.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,625 shares of company stock valued at $18,810,613. Company insiders own 9.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BEAT. BlackRock Inc. raised its position in shares of BioTelemetry by 8.0% during the second quarter. BlackRock Inc. now owns 4,597,288 shares of the medical research company’s stock valued at $206,877,000 after buying an additional 339,306 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of BioTelemetry by 67.1% during the first quarter. Russell Investments Group Ltd. now owns 800,351 shares of the medical research company’s stock valued at $24,851,000 after buying an additional 321,284 shares during the last quarter. Castleark Management LLC acquired a new position in shares of BioTelemetry during the second quarter valued at about $13,712,000. Ancora Advisors LLC acquired a new position in shares of BioTelemetry during the first quarter valued at about $7,909,000. Finally, Harvest Capital Strategies LLC acquired a new position in shares of BioTelemetry during the first quarter valued at about $7,139,000. 93.82% of the stock is owned by institutional investors and hedge funds.

About BioTelemetry

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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