BioTelemetry (NASDAQ:BEAT) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of BioTelemetry (NASDAQ:BEAT) from a hold rating to a sell rating in a research report report published on Wednesday, June 26th, BidAskClub reports.

Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of Grana y Montero SAA from a sell rating to a hold rating in a research report on Monday, June 10th. Dougherty & Co reissued a buy rating and set a $140.00 target price (up previously from $115.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, Benchmark set a $82.00 target price on shares of BioTelemetry and gave the stock a buy rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $79.57.

BioTelemetry stock traded down $0.87 during trading hours on Wednesday, hitting $46.56. 325,774 shares of the stock were exchanged, compared to its average volume of 548,561. BioTelemetry has a 12 month low of $46.13 and a 12 month high of $80.92. The stock has a 50-day moving average of $48.81. The stock has a market capitalization of $1.60 billion, a PE ratio of 24.00 and a beta of 1.33. The company has a quick ratio of 1.84, a current ratio of 1.99 and a debt-to-equity ratio of 0.57.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. BioTelemetry had a net margin of 11.86% and a return on equity of 23.36%. The business had revenue of $103.98 million for the quarter, compared to analyst estimates of $104.17 million. During the same period in the prior year, the business posted $0.39 earnings per share. BioTelemetry’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that BioTelemetry will post 1.9 EPS for the current year.

In related 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 of the company’s stock, valued at $9,601,543.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its stake in BioTelemetry by 3.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,298 shares of the medical research company’s stock worth $640,000 after purchasing an additional 400 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in BioTelemetry by 106.5% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 11,389 shares of the medical research company’s stock worth $541,000 after purchasing an additional 5,873 shares in the last quarter. HMS Capital Management LLC grew its stake in BioTelemetry by 3.8% during the 2nd quarter. HMS Capital Management LLC now owns 8,205 shares of the medical research company’s stock worth $395,000 after purchasing an additional 300 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of BioTelemetry during the 2nd quarter worth about $307,000. Finally, Scout Investments Inc. boosted its position in shares of BioTelemetry by 65.1% during the 2nd quarter. Scout Investments Inc. now owns 208,760 shares of the medical research company’s stock worth $10,052,000 after acquiring an additional 82,281 shares in the last quarter. Institutional investors own 90.76% of the company’s stock.

BioTelemetry Company Profile

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.

Further Reading: Preferred Stock

Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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