BioTelemetry (BEAT) Downgraded by BidaskClub to Buy

BidaskClub downgraded shares of BioTelemetry (NASDAQ:BEAT) from a strong-buy rating to a buy rating in a report published on Thursday.

Several other research firms also recently commented on BEAT. Benchmark upped their price target on shares of BioTelemetry from $46.00 to $54.00 and gave the company a buy rating in a research note on Wednesday, June 20th. Lake Street Capital upped their price target on shares of BioTelemetry from $50.00 to $90.00 and gave the company a buy rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of BioTelemetry from a hold rating to a buy rating and set a $51.00 price target on the stock in a research note on Tuesday, June 26th. SunTrust Banks upped their price target on shares of BioTelemetry to $67.00 and gave the company a buy rating in a research note on Friday, August 31st. Finally, Raymond James upped their price target on shares of BioTelemetry from $57.00 to $66.00 and gave the company an outperform rating in a research note on Friday, September 14th. Eight research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $61.50.

BEAT stock opened at $55.92 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.29. BioTelemetry has a 52 week low of $23.30 and a 52 week high of $66.02. The stock has a market capitalization of $2.11 billion, a P/E ratio of 57.65, a price-to-earnings-growth ratio of 4.26 and a beta of 1.41.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Wednesday, July 25th. The medical research company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.15. BioTelemetry had a negative net margin of 0.39% and a positive return on equity of 18.02%. The business had revenue of $101.36 million for the quarter, compared to the consensus estimate of $95.87 million. During the same period in the prior year, the company posted $0.23 earnings per share. BioTelemetry’s revenue was up 74.4% compared to the same quarter last year. On average, analysts predict that BioTelemetry will post 1.51 EPS for the current year.

In other BioTelemetry news, Director Kirk E. Gorman sold 625 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $65.07, for a total transaction of $40,668.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk E. Gorman sold 7,500 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $50.74, for a total transaction of $380,550.00. Following the sale, the director now owns 180,815 shares in the company, valued at $9,174,553.10. The disclosure for this sale can be found here. Insiders sold 429,863 shares of company stock worth $24,367,451 over the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BEAT. BlackRock Inc. grew its stake in BioTelemetry by 8.0% during the second quarter. BlackRock Inc. now owns 4,597,288 shares of the medical research company’s stock worth $206,877,000 after buying an additional 339,306 shares in the last quarter. Russell Investments Group Ltd. grew its stake in BioTelemetry by 67.1% during the first quarter. Russell Investments Group Ltd. now owns 800,351 shares of the medical research company’s stock worth $24,851,000 after buying an additional 321,284 shares in the last quarter. Castleark Management LLC acquired a new stake in BioTelemetry during the second quarter worth about $13,712,000. Ancora Advisors LLC acquired a new stake in BioTelemetry during the first quarter worth about $7,909,000. Finally, Harvest Capital Strategies LLC acquired a new stake in BioTelemetry during the first quarter worth about $7,139,000. Hedge funds and other institutional investors own 93.82% 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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