BioTelemetry Inc. (NASDAQ:BEAT) – Equities researchers at Lake Street Capital reduced their Q3 2016 EPS estimates for shares of BioTelemetry in a research report issued on Wednesday. Lake Street Capital analyst B. Jackson now anticipates that the firm will earn $0.16 per share for the quarter, down from their prior forecast of $0.18. Lake Street Capital currently has a “Buy” rating and a $24.00 target price on the stock. Lake Street Capital also issued estimates for BioTelemetry’s Q4 2016 earnings at $0.16 EPS.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly 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. BioTelemetry had a return on equity of 25.36% and a net margin of 7.11%. The firm had revenue of $52.68 million for the quarter, compared to analyst estimates of $50.27 million. During the same period last year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis.
Other analysts also recently issued research reports about the company. Sidoti initiated coverage on BioTelemetry in a research note on Tuesday, September 13th. They issued a “buy” rating and a $27.00 price objective on the stock. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, August 4th. Finally, Benchmark Co. boosted their price objective on BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd.
Shares of BioTelemetry (NASDAQ:BEAT) opened at 20.20 on Friday. BioTelemetry has a 52 week low of $8.74 and a 52 week high of $21.68. The firm has a 50-day moving average price of $18.95 and a 200-day moving average price of $16.64. The firm has a market capitalization of $566.11 million, a price-to-earnings ratio of 42.98 and a beta of 0.73.
In other news, insider Joseph H. Capper sold 86,681 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $18.52, for a total transaction of $1,605,332.12. Following the sale, the insider now directly owns 287,045 shares of the company’s stock, valued at $5,316,073.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Ferola sold 4,352 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $18.23, for a total value of $79,336.96. Following the sale, the general counsel now directly owns 30,989 shares in the company, valued at $564,929.47. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. DIAM Co. Ltd. bought a new stake in shares of BioTelemetry during the second quarter worth about $133,000. Acrospire Investment Management LLC raised its stake in shares of 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 period. Springbok Capital Management LLC bought a new stake in shares of BioTelemetry during the first quarter worth about $146,000. Bank of Montreal Can bought a new stake in shares of BioTelemetry during the second quarter worth about $164,000. Finally, BlackRock Inc. raised its stake in shares of 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 period. 78.28% of the stock is currently owned by 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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