Zacks Investment Research cut shares of BioTelemetry, Inc. (NASDAQ:BEAT) from a buy rating to a hold rating in a research report sent to investors on Friday, May 5th.
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. “
Separately, Dougherty & Co boosted their target price on BioTelemetry from $30.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $30.20.
Shares of BioTelemetry (NASDAQ:BEAT) traded up 3.10% on Friday, reaching $28.30. The company had a trading volume of 375,848 shares. The company has a 50-day moving average price of $30.03 and a 200-day moving average price of $24.60. BioTelemetry has a one year low of $14.72 and a one year high of $34.00. The firm has a market cap of $810.94 million, a P/E ratio of 17.68 and a beta of 0.90.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Wednesday, May 3rd. The medical research company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. BioTelemetry had a return on equity of 26.70% and a net margin of 7.58%. The firm had revenue of $55.88 million during the quarter, compared to analysts’ expectations of $55.11 million. On average, analysts expect that BioTelemetry will post $0.89 earnings per share for the current fiscal year.
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In related news, SVP George Hrenko sold 126,043 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $25.95, for a total transaction of $3,270,815.85. Following the sale, the senior vice president now owns 23,172 shares in the company, valued at $601,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Fred Broadway sold 3,429 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $26.90, for a total value of $92,240.10. Following the sale, the senior vice president now owns 25,420 shares in the company, valued at approximately $683,798. The disclosure for this sale can be found here. Insiders have sold 152,542 shares of company stock valued at $3,985,373 over the last ninety days. 11.00% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in BioTelemetry by 69,017.8% in the first quarter. BlackRock Inc. now owns 3,509,112 shares of the medical research company’s stock valued at $101,587,000 after buying an additional 3,504,035 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of BioTelemetry by 176.1% in the third quarter. BlackRock Fund Advisors now owns 1,935,681 shares of the medical research company’s stock worth $35,946,000 after buying an additional 1,234,540 shares during the period. Vanguard Group Inc. raised its position in shares of BioTelemetry by 11.7% in the first quarter. Vanguard Group Inc. now owns 1,674,580 shares of the medical research company’s stock worth $48,480,000 after buying an additional 174,844 shares during the period. Dimensional Fund Advisors LP raised its position in shares of BioTelemetry by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,399 shares of the medical research company’s stock worth $32,260,000 after buying an additional 27,255 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of BioTelemetry by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,247,045 shares of the medical research company’s stock worth $36,102,000 after buying an additional 147,745 shares during the period. Hedge funds and other institutional investors own 84.23% of the company’s stock.
BioTelemetry Company Profile
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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