Citi Initiates Coverage on CardioNet (BEAT) with a Buy
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Citi initiates coverage on CardioNet (Nasdaq: BEAT) with a Buy. Price target $26.
Citi analyst says, "CardioNet helped establish the Mobile Cardiac Outpatient Telemetry (MCOT) segment of the arrhythmia monitoring market with the launch of the CardioNet system in 2003 and we believe the company is poised to gain share from the 1.4 million Event monitors and 2.3 million Holter monitors
prescribed each year in the US."
Cardionet, Inc. is a provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. [SM]
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