BioTelemetry (BEAT) Price Target Increased to $66.00 by Analysts at Raymond James

BioTelemetry (NASDAQ:BEAT) had its price target lifted by Raymond James from $57.00 to $66.00 in a report published on Friday, The Fly reports. Raymond James currently has an outperform rating on the medical research company’s stock.

A number of other research firms also recently weighed in on BEAT. SunTrust Banks lifted their target price on BioTelemetry to $67.00 and gave the stock a buy rating in a research report on Friday, August 31st. Lake Street Capital lifted their target price on BioTelemetry from $50.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, July 26th. Benchmark lifted their target price on BioTelemetry from $46.00 to $54.00 and gave the stock a buy rating in a research report on Wednesday, June 20th. Zacks Investment Research raised BioTelemetry from a hold rating to a buy rating and set a $51.00 target price on the stock in a research report on Tuesday, June 26th. Finally, TheStreet raised BioTelemetry from a c rating to a b- rating in a research report on Tuesday, May 29th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $61.50.

Shares of NASDAQ:BEAT traded up $1.80 during midday trading on Friday, hitting $62.05. The company’s stock had a trading volume of 506,494 shares, compared to its average volume of 350,890. The company has a market cap of $1.93 billion, a P/E ratio of 63.97, a P/E/G ratio of 3.90 and a beta of 1.46. BioTelemetry has a fifty-two week low of $23.30 and a fifty-two week high of $62.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.29.

BioTelemetry (NASDAQ:BEAT) last released its earnings results on Wednesday, July 25th. The medical research company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.15. BioTelemetry had a positive return on equity of 18.02% and a negative net margin of 0.39%. The business had revenue of $101.36 million for the quarter, compared to the consensus estimate of $95.87 million. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 74.4% compared to the same quarter last year. equities analysts predict that BioTelemetry will post 1.51 EPS for the current year.

In other BioTelemetry news, Director Kirk E. Gorman sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $50.74, for a total transaction of $380,550.00. Following the completion of the transaction, the director now owns 180,815 shares in the company, valued at $9,174,553.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Daniel Wisniewski sold 31,000 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $60.45, for a total transaction of $1,873,950.00. Following the transaction, the senior vice president now owns 57,291 shares of the company’s stock, valued at approximately $3,463,240.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 346,000 shares of company stock worth $18,771,675. 9.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BEAT. Thompson Davis & CO. Inc. lifted its stake in BioTelemetry by 112.0% during the second quarter. Thompson Davis & CO. Inc. now owns 2,650 shares of the medical research company’s stock worth $119,000 after purchasing an additional 1,400 shares during the period. Mount Yale Investment Advisors LLC bought a new position in BioTelemetry during the first quarter worth about $125,000. OppenheimerFunds Inc. bought a new position in BioTelemetry during the second quarter worth about $205,000. Xact Kapitalforvaltning AB bought a new position in BioTelemetry during the first quarter worth about $211,000. Finally, Amalgamated Bank bought a new position in BioTelemetry during the second quarter worth about $238,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

BioTelemetry Company Profile

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

See Also: Earnings Per Share (EPS) Explained

The Fly

Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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