BioTelemetry Inc (BEAT) Expected to Announce Quarterly Sales of $111.25 Million

Analysts predict that BioTelemetry Inc (NASDAQ:BEAT) will announce $111.25 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for BioTelemetry’s earnings. The lowest sales estimate is $111.06 million and the highest is $111.60 million. BioTelemetry reported sales of $101.36 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The firm is scheduled to report its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that BioTelemetry will report full year sales of $446.22 million for the current year, with estimates ranging from $445.03 million to $447.40 million. For the next year, analysts forecast that the company will post sales of $491.06 million, with estimates ranging from $484.62 million to $498.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow BioTelemetry.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $103.98 million during the quarter, compared to the consensus estimate of $104.17 million. BioTelemetry had a net margin of 11.86% and a return on equity of 23.36%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS.

BEAT has been the subject of several research reports. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 23rd. Benchmark set a $82.00 price objective on shares of BioTelemetry and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Monday, February 11th. Sidoti set a $95.00 price objective on shares of BioTelemetry and gave the company a “buy” rating in a research note on Tuesday, February 5th. Finally, ValuEngine downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. BioTelemetry currently has an average rating of “Buy” and a consensus target price of $79.57.

In other BioTelemetry news, Director Kirk E. Gorman sold 5,518 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $54.37, for a total value of $300,013.66. Following the completion of the transaction, the director now directly owns 178,833 shares in the company, valued at approximately $9,723,150.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC lifted its stake in shares of BioTelemetry by 54.0% in the third quarter. MetLife Investment Advisors LLC now owns 23,299 shares of the medical research company’s stock worth $1,502,000 after acquiring an additional 8,167 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of BioTelemetry by 50.5% in the third quarter. AQR Capital Management LLC now owns 9,135 shares of the medical research company’s stock worth $589,000 after acquiring an additional 3,066 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of BioTelemetry by 1.9% in the third quarter. Teachers Advisors LLC now owns 69,213 shares of the medical research company’s stock worth $4,461,000 after acquiring an additional 1,260 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of BioTelemetry by 13.0% in the third quarter. Legal & General Group Plc now owns 70,046 shares of the medical research company’s stock worth $4,488,000 after acquiring an additional 8,060 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of BioTelemetry by 3.8% in the third quarter. Morgan Stanley now owns 273,614 shares of the medical research company’s stock worth $17,633,000 after acquiring an additional 9,995 shares in the last quarter. Hedge funds and other institutional investors own 88.79% of the company’s stock.

NASDAQ:BEAT traded down $0.39 on Monday, hitting $50.74. The company had a trading volume of 5,132 shares, compared to its average volume of 649,500. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 26.14 and a beta of 1.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.99 and a quick ratio of 1.84. BioTelemetry has a 52 week low of $39.50 and a 52 week high of $80.92.

BioTelemetry Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.

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Earnings History and Estimates for BioTelemetry (NASDAQ:BEAT)

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