BioTelemetry (NASDAQ:BEAT) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of BioTelemetry (NASDAQ:BEAT) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.

BEAT has been the topic of several other reports. Benchmark set a $82.00 price objective on BioTelemetry and gave the company a buy rating in a research report on Tuesday, April 2nd. Zacks Investment Research lowered Hancock Jaffe Laboratories from a buy rating to a hold rating in a research report on Wednesday, June 26th. Dougherty & Co reissued a buy rating and issued a $140.00 target price (up previously from $115.00) on shares of Proofpoint in a report on Friday, April 26th. Finally, BidaskClub downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. 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 company’s stock. The company has an average rating of Hold and an average target price of $79.57.

Shares of BEAT stock opened at $45.27 on Thursday. The company’s 50-day moving average price is $48.75. The company has a quick ratio of 1.84, a current ratio of 1.99 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 23.34 and a beta of 1.33. BioTelemetry has a 12 month low of $44.57 and a 12 month high of $80.92.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. BioTelemetry had a return on equity of 23.36% and a net margin of 11.86%. The firm had revenue of $103.98 million during the quarter, compared to the consensus estimate of $104.17 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that BioTelemetry will post 1.9 EPS for the current year.

In other BioTelemetry news, Director Kirk E. Gorman sold 5,518 shares of BioTelemetry stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $53.69, for a total value of $296,261.42. Following the transaction, the director now directly owns 178,833 shares in the company, valued at $9,601,543.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pearl River Capital LLC lifted its position in BioTelemetry by 104.0% in the first quarter. Pearl River Capital LLC now owns 408 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 208 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in BioTelemetry during the first quarter worth approximately $38,000. Huntington National Bank increased its position in shares of BioTelemetry by 35.5% in the first quarter. Huntington National Bank now owns 680 shares of the medical research company’s stock worth $43,000 after acquiring an additional 178 shares in the last quarter. Ropes Wealth Advisors LLC bought a new position in BioTelemetry during the 1st quarter valued at $50,000. Finally, First Financial Corp IN bought a new position in shares of BioTelemetry in the 1st quarter worth about $63,000. 90.76% of the stock is currently owned by institutional investors.

BioTelemetry Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.

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Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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