Wall Street brokerages expect BioTelemetry, Inc. (NASDAQ:BEAT) to post sales of $91.55 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for BioTelemetry’s earnings. The lowest sales estimate is $91.39 million and the highest is $91.86 million. BioTelemetry posted sales of $55.88 million in the same quarter last year, which would indicate 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 financial year, with estimates ranging from $381.00 million to $382.43 million. For the next fiscal year, analysts forecast that the company will post sales of $416.36 million per share, with estimates ranging from $413.51 million to $419.70 million. Zacks’ sales averages are an average based on a survey of analysts that follow BioTelemetry.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Thursday, February 22nd. The medical research company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. The company had revenue of $91.70 million during the quarter, compared to analysts’ expectations of $88.33 million. BioTelemetry had a negative net margin of 5.56% and a positive return on equity of 14.54%. The business’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS.
Several equities analysts have recently commented on BEAT shares. Dougherty & Co restated a “buy” rating and issued a $41.00 target price (up from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. BidaskClub upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Finally, Zacks Investment Research upgraded shares of BioTelemetry from a “strong sell” rating to a “hold” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. BioTelemetry presently has a consensus rating of “Hold” and a consensus target price of $43.00.
Shares of BEAT stock traded up $0.70 during trading hours on Friday, hitting $33.35. 211,549 shares of the stock traded hands, compared to its average volume of 437,617. The firm has a market cap of $1,050.76, a PE ratio of -68.06, a PEG ratio of 1.63 and a beta of 0.75. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.80. BioTelemetry has a one year low of $23.30 and a one year high of $39.20.
In related news, insider Fred Broadway sold 54,158 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total transaction of $1,850,578.86. Following the completion of the transaction, the insider now directly owns 64,880 shares in the company, valued at approximately $2,216,949.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in BEAT. The Manufacturers Life Insurance Company increased its position in BioTelemetry by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,949 shares of the medical research company’s stock worth $734,000 after purchasing an additional 763 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in BioTelemetry by 65.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,489 shares of the medical research company’s stock worth $346,000 after purchasing an additional 4,157 shares in the last quarter. Principal Financial Group Inc. increased its position in BioTelemetry by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 252,708 shares of the medical research company’s stock worth $8,339,000 after purchasing an additional 12,010 shares in the last quarter. Swiss National Bank increased its position in BioTelemetry by 16.0% during the 3rd quarter. Swiss National Bank now owns 50,800 shares of the medical research company’s stock worth $1,676,000 after purchasing an additional 7,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in BioTelemetry by 81.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,239 shares of the medical research company’s stock worth $503,000 after purchasing an additional 6,838 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
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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