Equities analysts forecast that BioTelemetry, Inc. (NASDAQ:BEAT) will report $91.55 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for BioTelemetry’s earnings, with estimates ranging from $91.39 million to $91.86 million. BioTelemetry posted sales of $55.88 million during the same quarter last year, which suggests a positive year over year growth rate of 63.8%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that BioTelemetry will report full year sales of $91.55 million for the current year, with estimates ranging from $381.00 million to $382.43 million. For the next financial year, analysts forecast that the firm will post sales of $416.36 million per share, with estimates ranging from $413.51 million to $419.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow BioTelemetry.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Thursday, February 22nd. The medical research company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.24 by $0.08. The business had revenue of $91.70 million during the quarter, compared to the consensus estimate of $88.33 million. BioTelemetry had a negative net margin of 5.56% and a positive return on equity of 14.54%. BioTelemetry’s revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS.
BEAT has been the subject of several analyst reports. Dougherty & Co reiterated a “buy” rating and issued a $41.00 price objective (up previously from $40.00) on shares of BioTelemetry in a research note on Friday, February 23rd. BidaskClub upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research upgraded shares of BioTelemetry from a “strong sell” rating to a “hold” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $43.00.
Shares of BEAT stock traded up $0.70 during trading on Friday, reaching $33.35. 211,549 shares of the company’s stock traded hands, compared to its average volume of 437,617. BioTelemetry has a twelve month low of $23.30 and a twelve month high of $39.20. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1,050.76, a PE ratio of -68.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75.
In other BioTelemetry news, insider Fred Broadway sold 54,158 shares of BioTelemetry stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total value of $1,850,578.86. Following the completion of the sale, the insider now owns 64,880 shares in the company, valued at approximately $2,216,949.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of BEAT. Macquarie Group Ltd. raised its position in shares of BioTelemetry by 8,866.8% in the 4th quarter. Macquarie Group Ltd. now owns 756,263 shares of the medical research company’s stock valued at $22,612,000 after buying an additional 747,829 shares in the last quarter. Sterling Capital Management LLC acquired a new position in shares of BioTelemetry in the 4th quarter valued at approximately $12,910,000. Rice Hall James & Associates LLC acquired a new position in shares of BioTelemetry in the 4th quarter valued at approximately $12,319,000. Bank of New York Mellon Corp raised its position in shares of BioTelemetry by 39.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,701 shares of the medical research company’s stock valued at $47,379,000 after buying an additional 404,107 shares in the last quarter. Finally, Lyon Street Capital LLC raised its position in shares of BioTelemetry by 2,368.9% in the 4th quarter. Lyon Street Capital LLC now owns 379,029 shares of the medical research company’s stock valued at $11,333,000 after buying an additional 363,677 shares in the last quarter. Institutional investors own 87.64% of the company’s stock.
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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