Will BioTelemetry Deliver A Beat-and-raise Quarter This Time Too?
Shares of BioTelemetry Inc. (BEAT) have been hitting new highs, thanks to the string of strong quarterly results. The stock closed at an all-time high of $76.50 yesterday, and that represents a gain of 30% in just a month.
BioTelemetry is a wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care.
In the third quarter ended September 30, 2018, the Company recognized revenue of $100.0 million compared to $81.0 million for the third quarter of 2017, an increase of 23.4%. The third quarter of 2018 represented its 25th consecutive quarter of year over year revenue growth.
On an adjusted basis, net income attributable to BioTelemetry for the third quarter 2018 rose to $19.2 million or $0.53 per share from $8.5 million or $0.24 per share in the third quarter 2017.
The third quarter 2018 financial results were reported on October 30, 2018. Between then and now, the stock price has climbed from $49.52 to $75.50, an increase of 52%.
We had alerted our premium subscribers to BioTelemetry on September 9, 2015, when it was trading around $16. (Report titled “Beating The Odds…”).
BioTelemetry is slated to report its fourth quarter 2018 financial results in the last week of February. At the time of reporting its third-quarter 2018 financial results, the Company gave its full-year revenue guidance range as $397 million to $400 million.
Will BioTelemetry beat analysts’ estimates this time too and will the stock continue its upward trend? Stay tuned…
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