BioTelemetry Inc (NASDAQ:BEAT)’s share price reached a new 52-week high on Thursday . The company traded as high as $69.33 and last traded at $69.08, with a volume of 19932 shares trading hands. The stock had previously closed at $67.74.
A number of research firms have weighed in on BEAT. BidaskClub upgraded BioTelemetry from a “hold” rating to a “buy” rating in a research note on Saturday, November 3rd. Raymond James lifted their price objective on BioTelemetry from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. SunTrust Banks lifted their price objective on BioTelemetry to $67.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Finally, Lake Street Capital lifted their price objective 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 presently has a consensus rating of “Buy” and an average price target of $61.17.
The company has a debt-to-equity ratio of 0.66, a current ratio of 2.68 and a quick ratio of 2.50. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 39.85, a PEG ratio of 3.93 and a beta of 1.58.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, October 30th. The medical research company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.21. BioTelemetry had a return on equity of 22.56% and a net margin of 4.34%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $97.89 million. During the same quarter in the previous year, the business earned $0.16 EPS. BioTelemetry’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, analysts forecast that BioTelemetry Inc will post 1.72 earnings per share for the current year.
In related news, SVP Daniel Wisniewski sold 31,000 shares of BioTelemetry stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $60.45, for a total value of $1,873,950.00. Following the completion of the transaction, the senior vice president now owns 57,291 shares in the company, valued at approximately $3,463,240.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirk E. Gorman sold 625 shares of BioTelemetry stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $65.07, for a total value of $40,668.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,852 shares of company stock valued at $12,869,047. 9.60% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in shares of BioTelemetry by 15.1% in the 1st quarter. LPL Financial LLC now owns 20,884 shares of the medical research company’s stock valued at $648,000 after purchasing an additional 2,739 shares in the last quarter. Castleark Management LLC acquired a new stake in BioTelemetry in the 2nd quarter worth about $13,712,000. Swiss National Bank boosted its holdings in BioTelemetry by 5.6% in the 2nd quarter. Swiss National Bank now owns 56,600 shares of the medical research company’s stock worth $2,547,000 after buying an additional 3,000 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in BioTelemetry in the 2nd quarter worth about $205,000. Finally, Legal & General Group Plc boosted its holdings in BioTelemetry by 2.9% in the 1st quarter. Legal & General Group Plc now owns 57,741 shares of the medical research company’s stock worth $1,778,000 after buying an additional 1,653 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.
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About BioTelemetry (NASDAQ:BEAT)
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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