BioTelemetry (NASDAQ:BEAT) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of BioTelemetry (NASDAQ:BEAT) from a strong sell rating to a sell rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other research firms have also recently commented on BEAT. TheStreet cut BioTelemetry from a b- rating to a c+ rating in a research report on Friday, August 16th. ValuEngine cut BioTelemetry from a hold rating to a sell rating in a research report on Thursday, July 18th. Sidoti dropped their target price on BioTelemetry from $95.00 to $87.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Lake Street Capital set a $90.00 target price on BioTelemetry and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, Raymond James cut BioTelemetry from an outperform rating to a market perform rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. BioTelemetry presently has a consensus rating of Hold and an average target price of $73.50.

NASDAQ:BEAT opened at $42.98 on Thursday. BioTelemetry has a 52 week low of $38.45 and a 52 week high of $80.92. The company has a quick ratio of 2.09, a current ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.43 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.12 and a beta of 1.40. The stock’s 50-day moving average price is $41.55 and its 200-day moving average price is $51.82.

BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, July 30th. The medical research company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.08. BioTelemetry had a return on equity of 22.98% and a net margin of 11.06%. The firm had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $111.11 million. During the same period last year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts expect that BioTelemetry will post 1.97 earnings per share for the current fiscal year.

In related news, SVP Peter Ferola sold 44,276 shares of BioTelemetry stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $39.03, for a total value of $1,728,092.28. Following the sale, the senior vice president now directly owns 19,622 shares in the company, valued at approximately $765,846.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in BioTelemetry by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,032,734 shares of the medical research company’s stock worth $242,325,000 after buying an additional 64,604 shares during the last quarter. Vanguard Group Inc. boosted its holdings in BioTelemetry by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,698,176 shares of the medical research company’s stock worth $178,067,000 after buying an additional 195,534 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in BioTelemetry by 42.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 668,530 shares of the medical research company’s stock worth $32,190,000 after buying an additional 199,171 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BioTelemetry by 0.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 586,023 shares of the medical research company’s stock worth $28,217,000 after buying an additional 2,709 shares during the last quarter. Finally, Carillon Tower Advisers Inc. boosted its holdings in BioTelemetry by 0.5% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 481,207 shares of the medical research company’s stock worth $23,169,000 after buying an additional 2,575 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

About BioTelemetry

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.

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Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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