Zacks Investment Research Downgrades BioTelemetry (BEAT) to Sell

BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, April 25th.

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 equities analysts have also issued reports about the stock. BidaskClub upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating in a report on Tuesday, April 17th. TheStreet lowered shares of BioTelemetry from a “b-” rating to a “c” rating in a report on Tuesday, March 20th. Finally, Dougherty & Co reiterated a “buy” rating and set a $41.00 target price (up from $40.00) on shares of BioTelemetry in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.29.

BioTelemetry opened at $41.20 on Wednesday, MarketBeat reports. BioTelemetry has a 52-week low of $40.35 and a 52-week high of $40.80. The company has a market cap of $1.34 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 3.23 and a beta of 0.81. The company has a quick ratio of 1.83, a current ratio of 1.96 and a debt-to-equity ratio of 0.77.

BioTelemetry (NASDAQ:BEAT) last released its earnings results on Wednesday, April 25th. The medical research company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.16. BioTelemetry had a negative net margin of 3.13% and a positive return on equity of 16.63%. The firm had revenue of $94.50 million during the quarter, compared to analyst estimates of $91.55 million. During the same period last year, the business earned $0.16 earnings per share. The business’s revenue was up 69.1% on a year-over-year basis. sell-side analysts predict that BioTelemetry will post 1.26 EPS for the current year.

In related news, CFO Heather C. Getz sold 65,570 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $38.03, for a total value of $2,493,627.10. Following the completion of the transaction, the chief financial officer now directly owns 84,156 shares in the company, valued at approximately $3,200,452.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Heather C. Getz sold 36,405 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $39.62, for a total transaction of $1,442,366.10. Following the completion of the transaction, the vice president now owns 80,561 shares of the company’s stock, valued at $3,191,826.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,503 shares of company stock valued at $10,153,267. 9.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BEAT. Macquarie Group Ltd. raised its stake in BioTelemetry by 8,866.8% during the 4th quarter. Macquarie Group Ltd. now owns 756,263 shares of the medical research company’s stock valued at $22,612,000 after buying an additional 747,829 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in BioTelemetry during the 4th quarter valued at $12,910,000. Rice Hall James & Associates LLC purchased a new stake in BioTelemetry during the 4th quarter valued at $12,319,000. Lyon Street Capital LLC raised its stake in BioTelemetry by 2,368.9% during the 4th quarter. Lyon Street Capital LLC now owns 379,029 shares of the medical research company’s stock valued at $11,333,000 after buying an additional 363,677 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in BioTelemetry by 67.1% during the 1st quarter. Russell Investments Group Ltd. now owns 800,351 shares of the medical research company’s stock valued at $24,851,000 after buying an additional 321,284 shares during the last quarter. Institutional investors and hedge funds own 86.21% of the company’s stock.

About BioTelemetry

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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