Dougherty & Co Increases BioTelemetry, Inc. (BEAT) Price Target to $40.00
BioTelemetry, Inc. (NASDAQ:BEAT) had its price target lifted by Dougherty & Co from $37.00 to $40.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the medical research company’s stock.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded BioTelemetry from a hold rating to a buy rating and set a $38.00 target price on the stock in a research note on Tuesday, May 2nd. Benchmark Co. started coverage on BioTelemetry in a research note on Thursday, June 29th. They set a buy rating and a $38.00 target price on the stock. Lake Street Capital reiterated a buy rating and set a $50.00 target price (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Finally, BidaskClub cut BioTelemetry from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $44.40.
Shares of BioTelemetry (BEAT) traded up 2.22% during trading on Wednesday, hitting $34.50. 404,643 shares of the stock traded hands. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 23.15 and a beta of 0.76. BioTelemetry has a 1-year low of $15.25 and a 1-year high of $36.50. The stock has a 50 day moving average price of $33.52 and a 200-day moving average price of $29.20.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. Equities analysts forecast that BioTelemetry will post $0.99 EPS for the current year.
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In other news, Director Robert J. Rubin sold 15,000 shares of BioTelemetry stock in a transaction on Monday, May 15th. The stock was sold at an average price of $28.14, for a total transaction of $422,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of BioTelemetry by 69,017.8% in the first quarter. BlackRock Inc. now owns 3,509,112 shares of the medical research company’s stock worth $101,587,000 after buying an additional 3,504,035 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of BioTelemetry during the second quarter worth about $26,694,000. Russell Investments Group Ltd. boosted its stake in shares of BioTelemetry by 115.2% in the second quarter. Russell Investments Group Ltd. now owns 970,162 shares of the medical research company’s stock worth $32,453,000 after buying an additional 519,267 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BioTelemetry by 95.9% in the second quarter. Bank of New York Mellon Corp now owns 1,031,594 shares of the medical research company’s stock worth $34,506,000 after buying an additional 504,869 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in shares of BioTelemetry during the second quarter worth about $14,720,000. Institutional investors own 83.91% of the company’s stock.
BioTelemetry, Inc (BioTelemetry), formerly CardioNet, Inc, provides cardiac monitoring services, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. The Company operates in three segments: patient services, product and research services. The patient services business segment’s principal focus is on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders, through its core Mobile Cardiac Outpatient Telemetry(MCOT), event and Holter services in a healthcare setting.
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