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December 16, 2013
06:37 EDTBEATBioTelemetry sees $5M revenue hit from reimbursement cut, says Benchmark Co.
After hosting investor meetings with the company, Benchmark Co. says BioTelemetry expects a $5M revenue hit in 2014 from the CMS reimbursement cut to its Patient Services business segment. The firm notes that Biotelemetry believes it can make up for the revenue loss with cost control measures and new revenue generating programs. Benchmark Co. thinks the share sell-off is overdone and keeps a Buy rating on the stock with a $15 price target.
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