Clusterstock  Dec 3  Comment 
Service sector activity accelerated in November. ISM's latest service sector PMI came in at 59.3.  Expectations were for the reading to come in at 57.5, up from 57.1 in October.  October's report missed expectations. Wednesday's report...
Benzinga  Nov 19  Comment 
BioTelemetry, Inc. (Nasdaq: BEAT), the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, announced today that after 13 years of distinguished service, Eric...
TheStreet.com  Nov 6  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.  TheStreet Ratings quantitative algorithm...
Clusterstock  Oct 30  Comment 
GoPro shares just jumped 8% after the company reported earnings ahead of expectations. Excluding nonrecurring items, the camera company earned $0.12 per share in Q3, beating expectations for $0.08 per share. Q3 revenue surged 45.7% year over...
StreetInsider.com  Oct 17  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/BioTelemetry+%28BEAT%29+Higher+after+Cigna+Reinstates+Coverage/9919543.html for the full story.
SeekingAlpha  Aug 2  Comment 
BioTelemetry, Inc. (NASDAQ:BEAT) Q2 2014 Results Earnings Conference Call July 31, 2014; 05:00 p.m. ET Executives Joseph Capper - President & Chief Executive Officer Heather Getz - Chief Financial Officer Analysts Bruce...
StreetInsider.com  Aug 1  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/BioTelemetry%27s+%28BEAT%29+Mednet+Served+with+Subpoena+in+New+Jersey/9713039.html for the full story.


CardioNet (NASDAQ:BEAT) is currently trading about 50% below its 50-day moving average at $6.27/share on 7/27/09 with value parameters that include a price/book ratio (PBR) of 0.95X, price/sales ratio (PSR) of 1.1X, and a trailing price/earnings (P/E) ratio of 19.5X with a market cap of about $150 million that includes over $50 million in cash and negligible debt. In mid-July, shares of BEAT tanked after the Company withdrew its 2009 financial outlook following a major cut in the reimbursement rate by Pennsylvania Medicare carrier Highmark for the Company's mobile cardiac outpatient telemetry (MCOT) services. As of 9/1/09, Highmark's reimbursement rate for MCOT services will decrease to $754, compared to the previous rate of $1,123 per service.

CardioNet's MCOT is an ambulatory cardiac monitoring service that analyzes patients' heartbeats on a real-time basis and includes automatic arrhythmia detection and wireless ECG transmission. The technology benefits both patients and physicians by providing 24/7 monitoring throughout the year on a remote basis to aid in the correct diagnosis and treatment of arrhythmias that may otherwise not be detected through Holter monitors or other instruments.

Predictably, BEAT received a wave of downgrades from analysts given the uncertainties surrounding the Company's profitability and the prospect of reimbursement cuts from other third-party payers. Despite these uncertainties, BEAT trades at an enterprise value of about 100 million and a significant discount to other companies in the Health IT industry in terms of PBR and PSR with many of the companies trading at ratios above 3X for these parameters.

My Global Health IT Index tracks the performance of 65 companies which derive the majority of their revenue from the following activities: (1) the electronic transmission, storage, and processing of prescriptions (e-prescribing); (2) electronic storage and systems for healthcare facility operations and medical records; and (3) electronic systems, devices, and services for remote, real-time monitoring of patient health parameters (telemedicine).

Despite uncertainties over the prospects for major healthcare reform, increased spending on Health IT is widely recognized as an important feature to modernize medical records, measure healthcare outcomes, and improve/extend the reach of modern healthcare technology through remote patient monitoring and other related technologies.

The Health IT index has easily outpaced the overall market on a year-to-date basis (YTD), including some top YTD stock price gainers from the index such as Allscripts-Misys (NASDAQ:MDRX) (+61%) (PBR = 3.4, PSR = 4.3), Eclipsys (NASDAQ:ECLP) (+27%) (PBR = 2.5, PSR = 1.9), Cerner (NASDAQ:CERN) (+68%) (PBR = 3.9, PSR = 3.2), Computer Programs & Systems (NASDAQ:CPSI) (+38%) (PBR = 9.5, PSR = 3.3), Quality Systems (NASDAQ:QSII) (+27%) (PBR = 10, PSR = 6.4), and Merge Healthcare (NASDAQ:MRGE) (+191%) (PBR = 17, PSR = 3.6).

Despite the uncertainties surrounding the reimbursement cuts for the Company's MCOT service and its murky financial outlook for 2009, I own shares of BEAT due to its strong balance sheet, extremely oversold stock price, the long-term potential for either a return to earnings growth or an acquisition by a larger player in the Health IT industry, and overall favorable market conditions for the healthcare sector as large-scale reform is unlikely to occur with the trend of consolidation expected to continue.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki