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Fly News Breaks for August 31, 2018
BEAT
Aug 31, 2018 | 09:32 EDT
SunTrust analyst Bruce Nudell raised his price target on BioTelemetry to $67 and kept his Buy rating to reflect his updated FY18 revenue model of $394.7M vs. $385.6M prior view. The analyst also raised his FY18 EPS view to $1.50 from $1.34 as part of his new assumption of a 9% top-line growth over the next 3 years, saying the mobile cardiac outpatient telemetry market where the company has a 70% market share is growing by over 9%. Nudell further notes BioTelemetry opportunity in the Extended Holter business where the company remains a "minority player".
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