BioTelemetry (NASDAQ:BEAT) PT Set at $90.00 by Lake Street Capital

Lake Street Capital set a $90.00 price target on BioTelemetry (NASDAQ:BEAT) in a report released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other equities research analysts also recently commented on the company. Raymond James cut their price objective on BioTelemetry from $62.00 to $54.00 and set an outperform rating for the company in a report on Wednesday. ValuEngine downgraded BioTelemetry from a hold rating to a sell rating in a report on Thursday, July 18th. Sidoti cut their price target on BioTelemetry from $95.00 to $87.00 and set a buy rating for the company in a report on Wednesday. Zacks Investment Research raised BioTelemetry from a hold rating to a buy rating and set a $53.00 price target for the company in a report on Thursday. Finally, Benchmark set a $82.00 price target on BioTelemetry and gave the company a buy rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $72.57.

Shares of NASDAQ BEAT traded down $2.46 during trading hours on Wednesday, hitting $42.03. The company had a trading volume of 927,824 shares, compared to its average volume of 551,298. The stock has a market capitalization of $1.42 billion, a PE ratio of 21.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.99 and a quick ratio of 1.84. BioTelemetry has a 1-year low of $39.41 and a 1-year high of $80.92. The firm’s 50 day moving average price is $47.88.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.45 by $0.08. The company had revenue of $111.80 million during the quarter, compared to the consensus estimate of $111.11 million. BioTelemetry had a return on equity of 23.36% and a net margin of 11.86%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities research analysts expect that BioTelemetry will post 1.93 EPS for the current year.

A number of institutional investors have recently made changes to their positions in BEAT. Swiss National Bank grew its holdings in BioTelemetry by 3.0% during the second quarter. Swiss National Bank now owns 62,500 shares of the medical research company’s stock worth $3,009,000 after buying an additional 1,800 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in BioTelemetry by 38.4% during the second quarter. Envestnet Asset Management Inc. now owns 31,469 shares of the medical research company’s stock worth $1,515,000 after buying an additional 8,725 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in BioTelemetry by 42.4% during the second quarter. Stephens Investment Management Group LLC now owns 668,530 shares of the medical research company’s stock worth $32,190,000 after buying an additional 199,171 shares in the last quarter. Janus Henderson Group PLC grew its holdings in BioTelemetry by 73.8% during the second quarter. Janus Henderson Group PLC now owns 16,137 shares of the medical research company’s stock worth $777,000 after buying an additional 6,853 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in BioTelemetry by 71.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,553 shares of the medical research company’s stock worth $364,000 after buying an additional 3,160 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

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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