We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BioTelemetry Forms Partnership with Bloomlife, Stock Down
Read MoreHide Full Article
BioTelemetry Inc (BEAT - Free Report) announced a strategic partnership with Bloom Technologies, also known as Bloomlife, a digital health company focused on improving the health of mothers and babies.
Under the terms of the deal, Bloomlife will make use of BioTelemetry’s proprietary ‘Telemetry Technology’ for a prenatal health sensor. In return, Bloomlife will pay a significant portion of its revenues to BioTelemetry’s for having the license of its exclusive technology. Notably, all the other terms of the deal have been kept under wraps.
Coming to share price movement, BioTelemetry declined almost 1.6% to close at $20.58 following the news.
Nevertheless, the current market sentiments are quite impressive, as BioTelemetry represents a solid one-year return of 44.6%, higher than the S&P 500’s return of 17.1% over the same time frame. We believe the recent development would further enhance the current trends for BioTelemetry.
Benefiting from this agreement, BioTelemetry is expected expand its networks by foraying into the unidentified prenatal healthcare markets. Moreover, this deal would significantly enhance the company’s healthcare revenues in the coming quarters.
Meanwhile we note that in the just-reported second-quarter, BioTelemetry reported a $5.9 million rise in health care revenues on a year-over-year basis.
Our Take
Taking into consideration the growing awareness in the prenatal healthcare markets, we believe the latest deal will help BioTelemetry tap into opportunities going ahead.
Notably, an analysis by Transparency Market Research reveals that the ‘prenatal diagnostics market’ is forecasted to grow at a CAGR of 4.3% to $5.9 billion by 2018.
Buoyed by this trend, we presume BioTelemetry, with its new partner Bloomlife, will significantly gain traction in the prenatal care and related ancillary markets and fortify its position by expanding networks.
Zacks Rank & Other Key Picks
Currently, BioTelemetry has a Zacks Rank #2 (Buy).
Other favorably ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corporation (MASI - Free Report) and NuVasive Inc. . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
BioTelemetry Forms Partnership with Bloomlife, Stock Down
BioTelemetry Inc (BEAT - Free Report) announced a strategic partnership with Bloom Technologies, also known as Bloomlife, a digital health company focused on improving the health of mothers and babies.
Under the terms of the deal, Bloomlife will make use of BioTelemetry’s proprietary ‘Telemetry Technology’ for a prenatal health sensor. In return, Bloomlife will pay a significant portion of its revenues to BioTelemetry’s for having the license of its exclusive technology. Notably, all the other terms of the deal have been kept under wraps.
Coming to share price movement, BioTelemetry declined almost 1.6% to close at $20.58 following the news.
Nevertheless, the current market sentiments are quite impressive, as BioTelemetry represents a solid one-year return of 44.6%, higher than the S&P 500’s return of 17.1% over the same time frame. We believe the recent development would further enhance the current trends for BioTelemetry.
Benefiting from this agreement, BioTelemetry is expected expand its networks by foraying into the unidentified prenatal healthcare markets. Moreover, this deal would significantly enhance the company’s healthcare revenues in the coming quarters.
BIOTELEMETRY Price
BIOTELEMETRY Price | BIOTELEMETRY Quote
Meanwhile we note that in the just-reported second-quarter, BioTelemetry reported a $5.9 million rise in health care revenues on a year-over-year basis.
Our Take
Taking into consideration the growing awareness in the prenatal healthcare markets, we believe the latest deal will help BioTelemetry tap into opportunities going ahead.
Notably, an analysis by Transparency Market Research reveals that the ‘prenatal diagnostics market’ is forecasted to grow at a CAGR of 4.3% to $5.9 billion by 2018.
Buoyed by this trend, we presume BioTelemetry, with its new partner Bloomlife, will significantly gain traction in the prenatal care and related ancillary markets and fortify its position by expanding networks.
Zacks Rank & Other Key Picks
Currently, BioTelemetry has a Zacks Rank #2 (Buy).
Other favorably ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corporation (MASI - Free Report) and NuVasive Inc. . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>