BioTelemetry (BEAT) Cut to Sell at Zacks Investment Research

BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 have also recently issued research reports about the stock. BidaskClub cut shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Dougherty & Co reaffirmed a “buy” rating and issued a $40.00 price target on shares of BioTelemetry in a research note on Wednesday, November 8th. SunTrust Banks initiated coverage on BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 price target for the company. Finally, Raymond James Financial initiated coverage on BioTelemetry in a research note on Thursday, October 26th. They issued an “outperform” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. BioTelemetry has a consensus rating of “Hold” and a consensus price target of $42.86.

Shares of BioTelemetry (NASDAQ:BEAT) traded down $0.90 during trading on Thursday, hitting $31.05. 244,922 shares of the stock were exchanged, compared to its average volume of 438,053. The company has a market capitalization of $1,040.00, a PE ratio of 23.70, a PEG ratio of 1.45 and a beta of 0.67. BioTelemetry has a 52 week low of $23.30 and a 52 week high of $39.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.48 and a current ratio of 1.60.

BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). The business had revenue of $81.02 million during the quarter, compared to the consensus estimate of $82.10 million. BioTelemetry had a net margin of 16.10% and a return on equity of 13.66%. The company’s revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. equities analysts anticipate that BioTelemetry will post 0.83 EPS for the current year.

A number of hedge funds have recently bought and sold shares of BEAT. Winslow Evans & Crocker Inc. acquired a new position in BioTelemetry in the third quarter valued at about $109,000. First Dallas Securities Inc. acquired a new position in BioTelemetry in the fourth quarter valued at about $133,000. Piedmont Investment Advisors LLC acquired a new position in BioTelemetry in the second quarter valued at about $207,000. UBS Asset Management Americas Inc. acquired a new position in BioTelemetry in the second quarter valued at about $208,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in BioTelemetry in the second quarter valued at about $212,000. 84.07% of the stock is owned by institutional investors and hedge funds.

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About BioTelemetry

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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