BioTelemetry Inc (NASDAQ:BEAT) Receives $80.20 Consensus Target Price from Brokerages

Shares of BioTelemetry Inc (NASDAQ:BEAT) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the stock, MarketBeat reports. Two equities research 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 average 12-month price target among analysts that have issued a report on the stock in the last year is $80.20.

Several equities research analysts recently commented on the company. BidaskClub cut BioTelemetry from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Lake Street Capital set a $90.00 target price on BioTelemetry and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TheStreet cut BioTelemetry from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. ValuEngine cut BioTelemetry from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, Sidoti decreased their target price on BioTelemetry from $95.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in BioTelemetry by 1.3% in the second quarter. BlackRock Inc. now owns 5,032,734 shares of the medical research company’s stock valued at $242,325,000 after acquiring an additional 64,604 shares during the period. Vanguard Group Inc. grew its stake in 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. Stephens Investment Management Group LLC grew its stake in 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. Price T Rowe Associates Inc. MD grew its stake in BioTelemetry by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 586,023 shares of the medical research company’s stock valued at $28,217,000 after acquiring an additional 2,709 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in BioTelemetry in the first quarter valued at approximately $31,052,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Shares of BEAT stock traded down $0.69 on Friday, hitting $40.64. The company had a trading volume of 368,662 shares, compared to its average volume of 452,750. The firm has a market cap of $1.40 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.09 and a beta of 1.32. The stock’s 50-day moving average is $44.43 and its two-hundred day moving average is $55.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.09 and a current ratio of 2.19. BioTelemetry has a twelve month low of $38.78 and a twelve month high of $80.92.

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

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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Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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