BioTelemetry (NASDAQ:BEAT) Cut to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of BioTelemetry (NASDAQ:BEAT) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “BioTelemetry, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual’s health. It is focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders. BioTelemetry, Inc., formerly known as CardioNet, Inc., is headquartered in Conshohocken, Pennsylvania. “

Other research analysts have also issued research reports about the stock. Lake Street Capital set a $90.00 price objective on shares of BioTelemetry and gave the company a buy rating in a research note on Wednesday, July 31st. Dougherty & Co reiterated a buy rating and issued a $75.00 price objective (down previously from $81.00) on shares of BioTelemetry in a research note on Friday, April 26th. ValuEngine lowered shares of BioTelemetry from a hold rating to a sell rating in a research note on Thursday, July 18th. Raymond James lowered shares of BioTelemetry from an outperform rating to a market perform rating in a research note on Friday. Finally, BidaskClub lowered shares of BioTelemetry from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. BioTelemetry currently has a consensus rating of Hold and an average target price of $72.57.

BioTelemetry stock opened at $42.97 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.15 and a beta of 1.32. The company has a current ratio of 2.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $47.27. BioTelemetry has a twelve month low of $39.41 and a twelve month high of $80.92.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.08. The firm had revenue of $111.80 million for the quarter, compared to analyst estimates of $111.11 million. BioTelemetry had a net margin of 11.06% and a return on equity of 22.98%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Research analysts expect that BioTelemetry will post 1.96 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Investment Management Group LLC boosted its holdings in shares of BioTelemetry by 42.4% during 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 period. Eagle Asset Management Inc. bought a new stake in shares of BioTelemetry during the 1st quarter worth $31,052,000. Carillon Tower Advisers Inc. boosted its holdings in shares of BioTelemetry by 284.2% during the 1st quarter. Carillon Tower Advisers Inc. now owns 478,632 shares of the medical research company’s stock worth $29,972,000 after buying an additional 354,043 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of BioTelemetry by 28.2% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 398,105 shares of the medical research company’s stock worth $19,169,000 after buying an additional 87,601 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of BioTelemetry by 11.8% during the 4th quarter. Geode Capital Management LLC now owns 376,618 shares of the medical research company’s stock worth $22,490,000 after buying an additional 39,722 shares during the period. 92.04% of the stock is owned by institutional investors and hedge funds.

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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