Zacks Investment Research Upgrades BioTelemetry (NASDAQ:BEAT) to “Buy”

Zacks Investment Research upgraded shares of BioTelemetry (NASDAQ:BEAT) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $53.00 price target on the medical research company’s stock.

According to Zacks, “BioTelemetry, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual’s health. It is focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders. BioTelemetry, Inc., formerly known as CardioNet, Inc., is headquartered in Conshohocken, Pennsylvania. “

Other equities research analysts have also recently issued research reports about the company. Sidoti reduced their price objective on BioTelemetry from $95.00 to $87.00 and set a buy rating for the company in a report on Wednesday. Dougherty & Co restated a buy rating and set a $75.00 price objective (down previously from $81.00) on shares of BioTelemetry in a report on Friday, April 26th. Raymond James reduced 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 cut BioTelemetry from a hold rating to a sell rating in a report on Thursday, July 18th. Finally, BidaskClub cut BioTelemetry from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $72.57.

Shares of NASDAQ:BEAT traded down $2.46 during trading on Thursday, reaching $42.03. 961,019 shares of the stock were exchanged, compared to its average volume of 405,476. BioTelemetry has a 12 month low of $39.41 and a 12 month high of $80.92. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 21.66 and a beta of 1.32. The company’s 50-day moving average is $47.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.84 and a current ratio of 2.19.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.08. BioTelemetry had a return on equity of 22.98% and a net margin of 11.06%. The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $111.11 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. On average, analysts anticipate that BioTelemetry will post 1.96 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of BioTelemetry by 35.5% in the first quarter. Huntington National Bank now owns 680 shares of the medical research company’s stock valued at $43,000 after buying an additional 178 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of BioTelemetry by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 11,327 shares of the medical research company’s stock valued at $709,000 after buying an additional 195 shares in the last quarter. Pearl River Capital LLC raised its position in shares of BioTelemetry by 104.0% in the first quarter. Pearl River Capital LLC now owns 408 shares of the medical research company’s stock valued at $26,000 after buying an additional 208 shares in the last quarter. Chatham Capital Group Inc. raised its position in shares of BioTelemetry by 0.7% in the first quarter. Chatham Capital Group Inc. now owns 32,397 shares of the medical research company’s stock valued at $2,029,000 after buying an additional 214 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of BioTelemetry by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,898 shares of the medical research company’s stock valued at $808,000 after buying an additional 233 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

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.

Featured Story: How to invest in a bear market

Get a free copy of the Zacks research report on BioTelemetry (BEAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

Receive News & Ratings for BioTelemetry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioTelemetry and related companies with MarketBeat.com's FREE daily email newsletter.