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. “
A number of other equities analysts have also recently issued reports on BEAT. Benchmark Co. lifted their target price on shares of BioTelemetry from $20.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. Sidoti initiated coverage on shares of BioTelemetry in a research report on Tuesday, September 13th. They set a buy rating and a $27.00 target price for the company. Finally, Lake Street Capital restated a buy rating and set a $24.00 target price on shares of BioTelemetry in a research report on Wednesday.
BioTelemetry (NASDAQ:BEAT) traded up 0.19% during trading on Wednesday, reaching $20.79. 165,751 shares of the company’s stock traded hands. The company has a market cap of $582.64 million, a PE ratio of 44.23 and a beta of 0.73. BioTelemetry has a 12-month low of $8.74 and a 12-month high of $21.68. The company has a 50 day moving average price of $19.01 and a 200-day moving average price of $16.56.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The company earned $52.68 million during the quarter, compared to analysts’ expectations of $50.27 million. BioTelemetry had a net margin of 7.11% and a return on equity of 25.36%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that BioTelemetry will post $0.76 EPS for the current fiscal year.
In related news, SVP Daniel Wisniewski sold 9,025 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $20.96, for a total value of $189,164.00. Following the completion of the sale, the senior vice president now directly owns 68,501 shares in the company, valued at $1,435,780.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Peter Ferola sold 4,352 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $18.23, for a total transaction of $79,336.96. Following the completion of the sale, the general counsel now owns 30,989 shares of the company’s stock, valued at $564,929.47. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BEAT. Geode Capital Management LLC increased its stake in BioTelemetry by 2.1% in the first quarter. Geode Capital Management LLC now owns 177,680 shares of the company’s stock worth $2,075,000 after buying an additional 3,654 shares during the last quarter. Springbok Capital Management LLC bought a new stake in BioTelemetry during the first quarter worth about $146,000. Acadian Asset Management LLC bought a new stake in BioTelemetry during the second quarter worth about $5,991,000. First Quadrant L P CA increased its stake in BioTelemetry by 56.4% in the second quarter. First Quadrant L P CA now owns 12,200 shares of the company’s stock worth $199,000 after buying an additional 4,400 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in BioTelemetry during the second quarter worth about $164,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.
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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