Equities Analysts Issue Forecasts for BioTelemetry, Inc.’s FY2017 Earnings (BEAT)
BioTelemetry, Inc. (NASDAQ:BEAT) – Analysts at Gabelli boosted their FY2017 EPS estimates for BioTelemetry in a note issued to investors on Thursday. Gabelli analyst S. Wojda now anticipates that the medical research company will post earnings per share of $1.15 for the year, up from their previous forecast of $1.05. Gabelli also issued estimates for BioTelemetry’s FY2018 earnings at $1.55 EPS, FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.95 EPS.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $58.10 million during the quarter, compared to the consensus estimate of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. WARNING: “Equities Analysts Issue Forecasts for BioTelemetry, Inc.’s FY2017 Earnings (BEAT)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/equities-analysts-issue-forecasts-for-biotelemetry-inc-s-fy2017-earnings-beat/1472114.html.
Several other research firms have also issued reports on BEAT. Dougherty & Co increased their price objective on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Benchmark Co. increased their price objective on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, Sidoti reissued a “buy” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BioTelemetry in a research report on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.20.
BioTelemetry (NASDAQ BEAT) traded up 2.2954% during trading on Friday, hitting $34.5247. 75,007 shares of the company’s stock traded hands. BioTelemetry has a 12-month low of $15.25 and a 12-month high of $36.50. The stock has a market cap of $1.12 billion, a P/E ratio of 23.1709 and a beta of 0.76. The firm’s 50-day moving average price is $33.38 and its 200 day moving average price is $29.11.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in 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 last quarter. Great West Life Assurance Co. Can raised its stake in 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 last quarter. Geneva Advisors LLC purchased a new stake in BioTelemetry during the first quarter worth $668,000. Bowling Portfolio Management LLC raised its stake in 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 last quarter. Finally, Emerald Advisers Inc. PA raised its stake in 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 last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.
In related news, Director Robert J. Rubin sold 15,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $28.14, for a total transaction of $422,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.
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.
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