Zacks Investment Research Downgrades BioTelemetry (BEAT) to Sell

BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

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 also recently issued research reports about the company. ValuEngine downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 23rd. Lake Street Capital set a $90.00 price objective on BioTelemetry and gave the stock a “buy” rating in a research report on Friday, February 22nd. Sidoti set a $95.00 price objective on BioTelemetry and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Dougherty & Co reiterated a “buy” rating and issued a $75.00 price objective (down previously from $81.00) on shares of BioTelemetry in a research report on Friday, April 26th. Finally, BidaskClub downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $79.57.

Shares of BEAT stock traded down $1.03 on Friday, reaching $47.88. The company’s stock had a trading volume of 468,597 shares, compared to its average volume of 634,800. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.84 and a current ratio of 1.99. BioTelemetry has a 12-month low of $40.25 and a 12-month high of $80.92. The company has a market capitalization of $1.69 billion, a PE ratio of 24.68 and a beta of 1.32.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. BioTelemetry had a return on equity of 23.36% and a net margin of 11.86%. The company had revenue of $103.98 million for the quarter, compared to the consensus estimate of $104.17 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that BioTelemetry will post 1.9 EPS for the current fiscal year.

In other BioTelemetry news, Director Kirk E. Gorman sold 5,518 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $53.69, for a total transaction of $296,261.42. Following the sale, the director now owns 178,833 shares in the company, valued at $9,601,543.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pearl River Capital LLC raised its position in BioTelemetry by 104.0% during the first quarter. Pearl River Capital LLC now owns 408 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 208 shares in the last quarter. Financial Architects Inc bought a new position in shares of BioTelemetry during the fourth quarter valued at about $30,000. Citizens Financial Group Inc RI bought a new position in shares of BioTelemetry during the first quarter valued at about $38,000. Huntington National Bank grew its stake in shares of BioTelemetry by 35.5% during 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 during the last quarter. Finally, We Are One Seven LLC bought a new position in shares of BioTelemetry during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 91.48% 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.

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