BioTelemetry (BEAT) Stock Rating Lowered by Zacks Investment Research

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BioTelemetry (NASDAQ:BEAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

Several other brokerages have also recently issued reports on BEAT. Raymond James decreased their price objective on BioTelemetry from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. BidaskClub raised BioTelemetry from a “hold” rating to a “buy” rating in a research report on Saturday, November 3rd. ValuEngine upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Finally, Sidoti set a $95.00 price target on BioTelemetry and gave the company a “buy” rating in a research report on Tuesday, February 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $70.57.

Shares of NASDAQ:BEAT opened at $76.30 on Tuesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 4.16 and a beta of 1.75. BioTelemetry has a fifty-two week low of $29.85 and a fifty-two week high of $80.92. The company has a quick ratio of 2.50, a current ratio of 2.68 and a debt-to-equity ratio of 0.66.

In related news, CFO Heather C. Getz sold 64,989 shares of the stock in a transaction on Friday, January 25th. The stock was sold at an average price of $70.09, for a total value of $4,555,079.01. Following the transaction, the chief financial officer now directly owns 119,085 shares of the company’s stock, valued at approximately $8,346,667.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Heather C. Getz sold 93,383 shares of the stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $70.06, for a total value of $6,542,412.98. Following the completion of the transaction, the vice president now directly owns 119,085 shares in the company, valued at $8,343,095.10. The disclosure for this sale can be found here. Insiders have sold 177,198 shares of company stock worth $12,419,736 in the last 90 days. Insiders own 8.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in shares of BioTelemetry in the 4th quarter worth $108,000. Loomis Sayles & Co. L P bought a new stake in shares of BioTelemetry during the third quarter valued at approximately $23,211,000. Federated Investors Inc. PA raised its holdings in shares of BioTelemetry by 8,359.7% during the third quarter. Federated Investors Inc. PA now owns 44,667 shares of the medical research company’s stock valued at $2,879,000 after buying an additional 44,139 shares during the last quarter. Logan Capital Management Inc. raised its holdings in BioTelemetry by 5.4% during the third quarter. Logan Capital Management Inc. now owns 52,524 shares of the medical research company’s stock worth $3,385,000 after purchasing an additional 2,705 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in BioTelemetry by 2.8% during the third quarter. Vanguard Group Inc now owns 1,900,117 shares of the medical research company’s stock worth $122,462,000 after purchasing an additional 52,363 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

BioTelemetry Company Profile

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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