BioTelemetry (NASDAQ:BEAT) had its price objective hoisted by analysts at Raymond James from $57.00 to $66.00 in a note issued to investors on Friday, September 14th, The Fly reports. The firm presently has an “outperform” rating on the medical research company’s stock. Raymond James’ price objective would suggest a potential upside of 22.29% from the company’s previous close.
Several other research firms also recently commented on BEAT. SunTrust Banks boosted their target price on shares of BioTelemetry to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Lake Street Capital boosted their target price on shares of BioTelemetry from $50.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Benchmark boosted their target price on shares of BioTelemetry from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, June 26th. Finally, TheStreet upgraded shares of BioTelemetry from a “c” rating to a “b-” rating in a report on Tuesday, May 29th. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $61.50.
BEAT stock traded down $1.95 during midday trading on Friday, hitting $53.97. The stock had a trading volume of 593,400 shares, compared to its average volume of 392,262. BioTelemetry has a 1-year low of $23.30 and a 1-year high of $66.02. The company has a quick ratio of 2.12, a current ratio of 2.29 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 4.26 and a beta of 1.41.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Wednesday, July 25th. The medical research company reported $0.46 earnings per share for the quarter, beating the 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 firm had revenue of $101.36 million during the quarter, compared to the consensus estimate of $95.87 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue was up 74.4% compared to the same quarter last year. Research analysts expect that BioTelemetry will post 1.51 earnings per share for the current year.
In other BioTelemetry news, Director Kirk E. Gorman sold 625 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $65.07, for a total value of $40,668.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Daniel Wisniewski sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $60.45, for a total transaction of $1,873,950.00. Following the sale, the senior vice president now owns 57,291 shares in the company, valued at $3,463,240.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 429,863 shares of company stock worth $24,367,451. Corporate insiders own 8.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. lifted its stake in shares of BioTelemetry by 112.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,650 shares of the medical research company’s stock valued at $119,000 after buying an additional 1,400 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of BioTelemetry during the 1st quarter valued at approximately $125,000. OppenheimerFunds Inc. purchased a new stake in shares of BioTelemetry during the 2nd quarter valued at approximately $205,000. Amalgamated Bank purchased a new stake in shares of BioTelemetry during the 2nd quarter valued at approximately $238,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in BioTelemetry during the 2nd quarter worth approximately $297,000. Institutional investors own 93.82% of the company’s stock.
BioTelemetry Company Profile
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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