BioTelemetry (NASDAQ:BEAT) Hits New 12-Month Low at $39.33

BioTelemetry Inc (NASDAQ:BEAT)’s stock price hit a new 52-week low on Thursday . The company traded as low as $39.33 and last traded at $39.40, with a volume of 12247 shares traded. The stock had previously closed at $40.90.

BEAT has been the subject of a number of research reports. Raymond James lowered shares of BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Dougherty & Co reiterated a “buy” rating and set a $75.00 target price (down previously from $81.00) on shares of BioTelemetry in a research report on Friday, April 26th. Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. BidaskClub lowered shares of BioTelemetry from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 23rd. Finally, Lake Street Capital set a $90.00 target price on shares of BioTelemetry and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. BioTelemetry presently has a consensus rating of “Hold” and a consensus price target of $72.57.

The company has a quick ratio of 2.09, a current ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.33 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The business’s 50-day simple moving average is $45.61 and its two-hundred day simple moving average is $56.15.

BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, July 30th. The medical research company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.08. BioTelemetry had a net margin of 11.06% and a return on equity of 22.98%. The firm had revenue of $111.80 million during the quarter, compared to analyst estimates of $111.11 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts anticipate that BioTelemetry Inc will post 1.98 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in BEAT. Eagle Asset Management Inc. bought a new position in shares of BioTelemetry in the first quarter valued at approximately $31,052,000. Carillon Tower Advisers Inc. boosted its position in shares of BioTelemetry by 284.2% in the first quarter. Carillon Tower Advisers Inc. now owns 478,632 shares of the medical research company’s stock valued at $29,972,000 after acquiring an additional 354,043 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its position in shares of BioTelemetry by 712.0% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 310,504 shares of the medical research company’s stock valued at $19,444,000 after acquiring an additional 272,265 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of BioTelemetry by 42.4% in the second quarter. Stephens Investment Management Group LLC now owns 668,530 shares of the medical research company’s stock valued at $32,190,000 after acquiring an additional 199,171 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of BioTelemetry by 5.6% in the second quarter. Vanguard Group Inc. now owns 3,698,176 shares of the medical research company’s stock valued at $178,067,000 after acquiring an additional 195,534 shares during the period. Institutional investors own 90.84% of the company’s stock.

About BioTelemetry (NASDAQ:BEAT)

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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