BidaskClub Downgrades BioTelemetry (BEAT) to Sell

BidaskClub cut shares of BioTelemetry (NASDAQ:BEAT) from a hold rating to a sell rating in a research note issued to investors on Monday, BidAskClub reports.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded BioTelemetry from a hold rating to a sell rating in a research report on Friday. Dougherty & Co reaffirmed a buy rating and issued a $75.00 target price (down previously from $81.00) on shares of BioTelemetry in a research report on Friday, April 26th. Benchmark set a $82.00 target price on BioTelemetry and gave the company a buy rating in a research report on Tuesday, April 2nd. ValuEngine downgraded BioTelemetry from a buy rating to a hold rating in a research report on Monday, April 1st. Finally, Lake Street Capital set a $90.00 price target on BioTelemetry and gave the stock a buy rating in a research report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $79.57.

NASDAQ:BEAT opened at $49.06 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.84 and a current ratio of 1.99. The stock has a market capitalization of $1.61 billion, a P/E ratio of 25.29 and a beta of 1.32. BioTelemetry has a 52-week low of $40.25 and a 52-week high of $80.92.

BioTelemetry (NASDAQ:BEAT) last released its earnings results on Thursday, April 25th. The medical research company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $103.98 million for the quarter, compared to the consensus estimate of $104.17 million. BioTelemetry had a return on equity of 23.36% and a net margin of 11.86%. BioTelemetry’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, analysts anticipate that BioTelemetry will post 1.9 earnings per share for the current year.

In other BioTelemetry news, Director Kirk E. Gorman sold 5,518 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $54.37, for a total transaction of $300,013.66. Following the transaction, the director now owns 178,833 shares of the company’s stock, valued at $9,723,150.21. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BEAT. AQR Capital Management LLC increased its position in BioTelemetry by 50.5% during the third quarter. AQR Capital Management LLC now owns 9,135 shares of the medical research company’s stock worth $589,000 after buying an additional 3,066 shares during the last quarter. Morgan Stanley boosted its holdings in shares of BioTelemetry by 3.8% during the third quarter. Morgan Stanley now owns 273,614 shares of the medical research company’s stock worth $17,633,000 after acquiring an additional 9,995 shares during the period. Vanguard Group Inc. boosted its holdings in shares of BioTelemetry by 2.8% during the third 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 period. Federated Investors Inc. PA boosted its holdings in shares of BioTelemetry by 8,359.7% during the third 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 period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of BioTelemetry by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 11,132 shares of the medical research company’s stock worth $664,000 after acquiring an additional 245 shares during the period. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

About BioTelemetry

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.

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