Shares of BioTelemetry, Inc. (NASDAQ:BEAT) have received a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $44.40.

A number of analysts have commented on the stock. Off Wall Street assumed coverage on shares of BioTelemetry in a research note on Friday. They set a “sell” rating for the company. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Dougherty & Co boosted their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Benchmark Co. boosted their price target on shares of BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Friday, August 11th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. boosted its holdings in BioTelemetry by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,867 shares of the medical research company’s stock worth $598,000 after acquiring an additional 46 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in BioTelemetry by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the medical research company’s stock worth $391,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System boosted its holdings in BioTelemetry by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,900 shares of the medical research company’s stock worth $498,000 after acquiring an additional 100 shares during the last quarter. Finally, Renaissance Group LLC boosted its holdings in BioTelemetry by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 12,405 shares of the medical research company’s stock worth $415,000 after acquiring an additional 301 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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BioTelemetry (NASDAQ:BEAT) traded down 3.25% on Friday, hitting $29.75. 1,052,225 shares of the stock traded hands. The stock has a 50-day moving average price of $35.80 and a 200 day moving average price of $31.47. BioTelemetry has a 1-year low of $15.25 and a 1-year high of $39.20. The company has a market cap of $962.71 million, a price-to-earnings ratio of 19.97 and a beta of 0.73.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to analyst estimates of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. BioTelemetry’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. On average, analysts anticipate that BioTelemetry will post $0.99 EPS for the current fiscal year.

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.

Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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