BioTelemetry (BEAT) PT Lowered to $64.00

BioTelemetry (NASDAQ:BEAT) had its price objective trimmed by Raymond James from $66.00 to $64.00 in a research note published on Wednesday morning. The firm currently has an outperform rating on the medical research company’s stock.

A number of other analysts have also recently commented on the company. SunTrust Banks lifted their price target on BioTelemetry to $67.00 and gave the stock a buy rating in a research report on Friday, August 31st. BidaskClub lowered BioTelemetry from a buy rating to a hold rating in a research note on Wednesday, October 10th. Finally, Lake Street Capital lifted their price target on BioTelemetry from $50.00 to $90.00 and gave the company a buy rating in a research note on Thursday, July 26th. Eight analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus price target of $61.17.

Shares of NASDAQ BEAT traded up $2.67 during midday trading on Wednesday, hitting $64.30. The company’s stock had a trading volume of 1,004,818 shares, compared to its average volume of 528,986. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.12 and a current ratio of 2.68. BioTelemetry has a 12-month low of $23.30 and a 12-month high of $66.29. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 66.29, a PEG ratio of 3.95 and a beta of 1.58.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $97.89 million. BioTelemetry had a return on equity of 22.56% and a net margin of 4.34%. BioTelemetry’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Sell-side analysts predict that BioTelemetry will post 1.72 earnings per share for the current year.

In other BioTelemetry news, Director Kirk E. Gorman sold 625 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $65.07, for a total value of $40,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel Wisniewski sold 31,000 shares of the company’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $60.45, for a total transaction of $1,873,950.00. Following the completion of the transaction, the senior vice president now 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. Insiders sold 122,363 shares of company stock worth $7,810,901 in the last three months. 9.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in BioTelemetry by 8.0% in 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 in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of BioTelemetry by 1.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,280,006 shares of the medical research company’s stock valued at $57,600,000 after purchasing an additional 19,749 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of BioTelemetry by 6.7% in the 2nd quarter. Sterling Capital Management LLC now owns 556,788 shares of the medical research company’s stock valued at $25,055,000 after purchasing an additional 35,000 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of BioTelemetry by 3.2% in the 2nd quarter. Northern Trust Corp now owns 460,018 shares of the medical research company’s stock valued at $20,701,000 after purchasing an additional 14,145 shares during the last quarter. Finally, Natixis lifted its holdings in shares of BioTelemetry by 1.3% during the 2nd quarter. Natixis now owns 319,024 shares of the medical research company’s stock valued at $14,356,000 after acquiring an additional 4,224 shares in the last quarter. Hedge funds and other institutional investors own 93.55% of the company’s stock.

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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Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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