Brokerages Anticipate BioTelemetry Inc (BEAT) Will Post Quarterly Sales of $104.29 Million

Equities research analysts expect that BioTelemetry Inc (NASDAQ:BEAT) will report sales of $104.29 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for BioTelemetry’s earnings. The highest sales estimate is $104.64 million and the lowest is $103.80 million. BioTelemetry posted sales of $94.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The firm is expected to announce its next earnings report on Wednesday, April 24th.

According to Zacks, analysts expect that BioTelemetry will report full-year sales of $439.74 million for the current year, with estimates ranging from $437.57 million to $440.90 million. For the next fiscal year, analysts expect that the business will report sales of $483.48 million, with estimates ranging from $479.02 million to $486.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow BioTelemetry.

BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Thursday, February 21st. The medical research company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.13. The company had revenue of $103.60 million during the quarter, compared to analysts’ expectations of $102.84 million. BioTelemetry had a net margin of 10.72% and a return on equity of 24.46%. BioTelemetry’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.

Several equities analysts have commented on the stock. ValuEngine upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Sidoti set a $95.00 price objective on shares of BioTelemetry and gave the company a “buy” rating in a research report on Tuesday, February 5th. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 11th. Finally, Lake Street Capital set a $90.00 price objective on shares of BioTelemetry and gave the company a “buy” rating in a research report on Friday, February 22nd. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.67.

BEAT stock traded up $0.51 during trading on Friday, hitting $62.62. 813,900 shares of the company’s stock traded hands, compared to its average volume of 653,133. BioTelemetry has a 52 week low of $30.30 and a 52 week high of $80.92. The company has a quick ratio of 2.81, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.13 billion, a P/E ratio of 32.28 and a beta of 1.47.

In other BioTelemetry news, VP Heather C. Getz sold 93,383 shares of the stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $70.06, for a total transaction of $6,542,412.98. Following the completion of the transaction, the vice president now owns 119,085 shares in the company, valued at $8,343,095.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Heather C. Getz sold 8,236 shares of the firm’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $70.01, for a total transaction of $576,602.36. Following the completion of the sale, the vice president now owns 88,797 shares of the company’s stock, valued at approximately $6,216,677.97. The disclosure for this sale can be found here. Insiders have sold 177,198 shares of company stock valued at $12,419,736 in the last quarter. 8.30% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of BioTelemetry in the 4th quarter worth about $108,000. Loomis Sayles & Co. L P bought a new stake in shares of BioTelemetry in the 3rd quarter worth about $23,211,000. Federated Investors Inc. PA lifted its holdings in shares of BioTelemetry by 8,359.7% in the 3rd quarter. Federated Investors Inc. PA now owns 44,667 shares of the medical research company’s stock worth $2,879,000 after acquiring an additional 44,139 shares during the last quarter. Logan Capital Management Inc. lifted its holdings in shares of BioTelemetry by 5.4% in the 3rd quarter. Logan Capital Management Inc. now owns 52,524 shares of the medical research company’s stock worth $3,385,000 after acquiring an additional 2,705 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of BioTelemetry by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 1,900,117 shares of the medical research company’s stock worth $122,462,000 after acquiring an additional 52,363 shares during the last quarter. Hedge funds and other institutional investors own 88.91% 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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Earnings History and Estimates for BioTelemetry (NASDAQ:BEAT)

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