Equities Analysts Offer Predictions for BioTelemetry, Inc.’s Q3 2017 Earnings (BEAT)

BioTelemetry, Inc. (NASDAQ:BEAT) – Research analysts at Dougherty & Co issued their Q3 2017 earnings estimates for BioTelemetry in a note issued to investors on Thursday. Dougherty & Co analyst G. Mannheimer forecasts that the medical research company will post earnings of $0.28 per share for the quarter. Dougherty & Co currently has a “Buy” rating and a $40.00 price objective on the stock. Dougherty & Co also issued estimates for BioTelemetry’s FY2018 earnings at $1.42 EPS.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. During the same quarter in the previous year, the company earned $0.20 EPS. BioTelemetry’s revenue was up 10.2% on a year-over-year basis.

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A number of other brokerages have also issued reports on BEAT. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Benchmark Co. raised their price objective on shares of BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a report on Friday, August 11th. Sidoti reiterated a “buy” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.40.

Shares of BioTelemetry (BEAT) opened at 35.75 on Friday. The stock’s 50 day moving average is $34.16 and its 200 day moving average is $29.60. The firm has a market cap of $1.16 billion, a PE ratio of 23.99 and a beta of 0.76. BioTelemetry has a 12 month low of $15.25 and a 12 month high of $37.50.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of BioTelemetry by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock worth $15,249,000 after buying an additional 24,601 shares during the period. Great West Life Assurance Co. Can raised its position in shares of BioTelemetry by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 39,099 shares of the medical research company’s stock worth $1,130,000 after buying an additional 1,227 shares during the period. Geneva Advisors LLC acquired a new position in shares of BioTelemetry during the first quarter worth about $668,000. Bowling Portfolio Management LLC raised its position in shares of BioTelemetry by 22.4% in the first quarter. Bowling Portfolio Management LLC now owns 28,112 shares of the medical research company’s stock worth $814,000 after buying an additional 5,146 shares during the period. Finally, Emerald Advisers Inc. PA raised its position in shares of BioTelemetry by 5.4% in the first quarter. Emerald Advisers Inc. PA now owns 24,271 shares of the medical research company’s stock worth $703,000 after buying an additional 1,237 shares during the period. Institutional investors and hedge funds own 76.72% of the company’s stock.

BioTelemetry Company Profile

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.

Earnings History and Estimates for BioTelemetry (NASDAQ:BEAT)

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