Brean Murray Downgrades CardioNet (BEAT) to Hold; Lowers Estimates
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Brean Murray downgrades CardioNet (Nasdaq: BEAT) from Buy to Hold.
Brean analyst says, "While we are long-term believers in telemetry-based monitoring platforms, we are moving to the sidelines based on lack of visibility or positive catalysts for the stock in the near-term...We are reducing FY09 and FY10 estimates to $143 million and $128 million from $149 million and $133 million...Our GAAP EPS for FY09 and FY10 are reduced to ($0.44) and ($0.85), respectively."
To see more analyst ratings on BEAT Click Here.
CardioNet, Inc. provides ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health in the United States.
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