BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, January 31st.
According to Zacks, “BioTelemetry, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual’s health. It is focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders. BioTelemetry, Inc., formerly known as CardioNet, Inc., is headquartered in Conshohocken, Pennsylvania. “
A number of other research analysts have also recently commented on BEAT. SunTrust Banks began coverage on BioTelemetry in a research note on Monday, October 23rd. They set a “buy” rating and a $41.00 target price on the stock. Raymond James Financial began coverage on BioTelemetry in a report on Thursday, October 26th. They issued an “outperform” rating and a $37.00 price target for the company. Dougherty & Co reiterated a “buy” rating and issued a $40.00 price target on shares of BioTelemetry in a report on Wednesday, November 8th. Finally, BidaskClub upgraded BioTelemetry from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $42.86.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEAT. Macquarie Group Ltd. boosted its stake in shares of BioTelemetry by 8,866.8% during the 4th quarter. Macquarie Group Ltd. now owns 756,263 shares of the medical research company’s stock worth $22,612,000 after acquiring an additional 747,829 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in BioTelemetry in the 4th quarter valued at about $12,319,000. Bank of New York Mellon Corp lifted its stake in 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. Lyon Street Capital LLC lifted its stake in 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. Finally, Castleark Management LLC purchased a new position in BioTelemetry in the 2nd quarter valued at about $11,806,000. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “BioTelemetry (NASDAQ:BEAT) Rating Lowered to Sell at Zacks Investment Research” was first published by Week Herald and is the property of of Week Herald. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://weekherald.com/2018/02/15/biotelemetry-beat-downgraded-by-zacks-investment-research-to-sell.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BioTelemetry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioTelemetry and related companies with MarketBeat.com's FREE daily email newsletter.