BioTelemetry Inc (BEAT) Expected to Post Quarterly Sales of $104.29 Million

Wall Street analysts expect BioTelemetry Inc (NASDAQ:BEAT) to report $104.29 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for BioTelemetry’s earnings. The lowest sales estimate is $103.80 million and the highest is $104.64 million. BioTelemetry reported sales of $94.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that BioTelemetry will report full year sales of $439.74 million for the current financial year, with estimates ranging from $437.57 million to $440.90 million. For the next year, analysts anticipate that the business will post sales of $483.48 million, with estimates ranging from $479.02 million to $486.80 million. Zacks’ sales calculations are an average based on a survey of analysts that follow BioTelemetry.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Thursday, February 21st. The medical research company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.13. The firm had revenue of $103.60 million during the quarter, compared to the consensus estimate of $102.84 million. BioTelemetry had a net margin of 10.72% and a return on equity of 24.46%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS.

BEAT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Benchmark set a $82.00 target price on shares of BioTelemetry and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. ValuEngine lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 23rd. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. Finally, Lake Street Capital set a $90.00 target price on shares of BioTelemetry and gave the stock a “buy” rating in a research report on Friday, February 22nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. BioTelemetry has an average rating of “Buy” and a consensus price target of $80.33.

Shares of BEAT traded down $2.06 during midday trading on Friday, hitting $56.06. 13,333 shares of the company traded hands, compared to its average volume of 593,050. BioTelemetry has a 52 week low of $32.65 and a 52 week high of $80.92. The company has a market capitalization of $1.96 billion, a PE ratio of 28.96 and a beta of 1.43. The company has a quick ratio of 2.81, a current ratio of 2.96 and a debt-to-equity ratio of 0.62.

In other BioTelemetry news, VP Heather C. Getz sold 8,236 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $70.01, for a total value of $576,602.36. Following the completion of the sale, the vice president now directly owns 88,797 shares in the company, valued at $6,216,677.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Heather C. Getz sold 64,989 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $70.09, for a total transaction of $4,555,079.01. Following the completion of the sale, the chief financial officer now owns 119,085 shares of the company’s stock, valued at $8,346,667.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,198 shares of company stock valued at $12,419,736. 6.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BEAT. SG Americas Securities LLC bought a new stake in shares of BioTelemetry in the third quarter worth $145,000. BlackRock Inc. raised its position in BioTelemetry by 7.8% in the 3rd quarter. BlackRock Inc. now owns 4,957,817 shares of the medical research company’s stock valued at $319,531,000 after buying an additional 360,529 shares during the last quarter. Riverhead Capital Management LLC raised its position in BioTelemetry by 27.5% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,637 shares of the medical research company’s stock valued at $299,000 after buying an additional 1,000 shares during the last quarter. LPL Financial LLC grew its stake in BioTelemetry by 2.7% in the third quarter. LPL Financial LLC now owns 42,541 shares of the medical research company’s stock valued at $2,742,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of BioTelemetry by 332.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 92,100 shares of the medical research company’s stock worth $5,936,000 after acquiring an additional 70,800 shares during the period. Institutional investors own 88.51% of the company’s stock.

About BioTelemetry

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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Earnings History and Estimates for BioTelemetry (NASDAQ:BEAT)

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