BioTelemetry (NASDAQ:BEAT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
BEAT has been the subject of several other research reports. Zacks Investment Research lowered BioTelemetry from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Dougherty & Co reiterated a “buy” rating and issued a $41.00 price target (up previously from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. Finally, TheStreet lowered BioTelemetry from a “b-” rating to a “c” rating in a research report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.00.
BEAT opened at $34.95 on Tuesday. The stock has a market capitalization of $1,125.78, a P/E ratio of 36.03, a P/E/G ratio of 1.70 and a beta of 0.86. BioTelemetry has a 12 month low of $23.30 and a 12 month high of $39.20. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.80.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Thursday, February 22nd. The medical research company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $91.70 million during the quarter, compared to analyst estimates of $88.33 million. BioTelemetry had a positive return on equity of 14.54% and a negative net margin of 5.56%. The firm’s revenue was up 69.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. analysts anticipate that BioTelemetry will post 1.27 earnings per share for the current year.
In other BioTelemetry news, insider Fred Broadway sold 54,158 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total value of $1,850,578.86. Following the completion of the sale, the insider now owns 64,880 shares of the company’s stock, valued at $2,216,949.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BEAT. Macquarie Group Ltd. bought a new stake in BioTelemetry in the third quarter worth about $279,000. Legal & General Group Plc lifted its stake in BioTelemetry by 6.5% in the third quarter. Legal & General Group Plc now owns 55,503 shares of the medical research company’s stock worth $1,831,000 after purchasing an additional 3,385 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in BioTelemetry by 12.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 126,672 shares of the medical research company’s stock worth $4,181,000 after purchasing an additional 14,238 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of BioTelemetry during the third quarter valued at approximately $337,000. Finally, California Public Employees Retirement System raised its stake in shares of BioTelemetry by 2.6% during the third quarter. California Public Employees Retirement System now owns 101,347 shares of the medical research company’s stock valued at $3,344,000 after acquiring an additional 2,547 shares in the last quarter. 87.13% of the stock is owned by institutional investors and hedge funds.
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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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