BioTelemetry Inc. (NASDAQ:BEAT)‘s stock had its “buy” rating reissued by equities research analysts at Lake Street Capital in a research note issued on Wednesday. They currently have a $24.00 target price on the stock. Lake Street Capital’s price objective points to a potential upside of 15.66% from the company’s previous close.
Several other brokerages have also recently issued reports on BEAT. Zacks Investment Research cut BioTelemetry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. Benchmark Co. upped their price objective on BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Sidoti started coverage on BioTelemetry in a report on Tuesday, September 13th. They set a “buy” rating and a $27.00 price objective on the stock.
Shares of BioTelemetry (NASDAQ:BEAT) traded up 13.20% on Wednesday, hitting $20.75. 1,815,781 shares of the stock traded hands. The firm has a 50 day moving average price of $19.01 and a 200 day moving average price of $16.53. BioTelemetry has a 52-week low of $8.74 and a 52-week high of $21.68. The firm has a market cap of $581.52 million, a PE ratio of 44.15 and a beta of 0.73.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. BioTelemetry had a return on equity of 25.36% and a net margin of 7.11%. The company had revenue of $52.68 million for the quarter, compared to analysts’ expectations of $50.27 million. During the same period in the previous year, the firm earned $0.12 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities analysts forecast that BioTelemetry will post $0.76 EPS for the current year.
In other news, CFO Heather C. Getz sold 9,026 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $20.96, for a total transaction of $189,184.96. Following the transaction, the chief financial officer now owns 125,819 shares of the company’s stock, valued at approximately $2,637,166.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Peter Ferola sold 2,210 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $18.10, for a total value of $40,001.00. Following the transaction, the general counsel now directly owns 28,847 shares in the company, valued at approximately $522,130.70. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of BioTelemetry by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 237,427 shares of the company’s stock valued at $3,870,000 after buying an additional 32,635 shares during the period. SECOR Capital Advisors LP acquired a new position in shares of BioTelemetry during the second quarter valued at approximately $1,371,000. Springbok Capital Management LLC acquired a new position in shares of BioTelemetry during the first quarter valued at approximately $146,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of BioTelemetry during the second quarter valued at approximately $7,636,000. Finally, Oxford Asset Management acquired a new position in shares of BioTelemetry during the second quarter valued at approximately $1,842,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.
BioTelemetry, Inc (BioTelemetry), formerly CardioNet, Inc, provides cardiac monitoring services, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. The Company operates in three segments: patient services, product and research services. The patient services business segment’s principal focus is on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders, through its core Mobile Cardiac Outpatient Telemetry(MCOT), event and Holter services in a healthcare setting.
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