BioTelemetry Inc. (NASDAQ:BEAT)‘s stock had its “buy” rating reaffirmed by analysts at Lake Street Capital in a note issued to investors on Wednesday. They currently have a $24.00 price objective on the stock. Lake Street Capital’s target price points to a potential upside of 18.99% from the stock’s current price.
BEAT has been the subject of a number of other reports. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, August 4th. Sidoti initiated coverage on shares of BioTelemetry in a report on Tuesday, September 13th. They set a “buy” rating and a $27.00 target price for the company. Finally, Benchmark Co. raised their target price on shares of BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd.
Shares of BioTelemetry (NASDAQ:BEAT) opened at 20.17 on Wednesday. The stock’s 50 day moving average price is $18.98 and its 200-day moving average price is $16.59. BioTelemetry has a 12-month low of $8.74 and a 12-month high of $21.68. The firm has a market capitalization of $565.26 million, a P/E ratio of 42.91 and a beta of 0.73.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. The firm 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 revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. On average, equities analysts expect that BioTelemetry will post $0.76 EPS for the current year.
In related news, SVP Daniel Wisniewski sold 9,025 shares of the firm’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 transaction, the senior vice president now owns 68,501 shares of the company’s stock, valued at approximately $1,435,780.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heather C. Getz sold 9,026 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 125,819 shares of the company’s stock, valued at approximately $2,637,166.24. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. DIAM Co. Ltd. purchased a new position in BioTelemetry during the second quarter worth approximately $133,000. Acrospire Investment Management LLC increased its stake in BioTelemetry by 147.9% in the second quarter. Acrospire Investment Management LLC now owns 8,214 shares of the company’s stock worth $134,000 after buying an additional 4,900 shares during the last quarter. Springbok Capital Management LLC bought a new stake in BioTelemetry during the first quarter worth about $146,000. Bank of Montreal Can bought a new stake in BioTelemetry during the second quarter worth about $164,000. Finally, BlackRock Inc. increased its stake in BioTelemetry by 691.2% in the second quarter. BlackRock Inc. now owns 11,448 shares of the company’s stock worth $187,000 after buying an additional 10,001 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for BioTelemetry Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioTelemetry Inc. and related companies with MarketBeat.com's FREE daily email newsletter.