I’m making a new recommendation in the medical arena: BioTelemetry (BEAT), based in Malvern, Pennsylvania, (near Philadelphia), asserts leading growth stock specialist Mark Skousen, editor of Forecasts & Strategies.

BioTelemetry is the world’s leading manufacturer of wearable cardiac monitoring devices, and is now serving the largest number of patients in its history (over a million).

Heart disease is the leading cause of death for both men and women. Over 610,000 people die of heart disease in the United States every year -- that's one in every four deaths.

With the aging population and rising cases of diabetes that cause heart problems, the patient population for wireless and wearable monitoring heart devices is bound to increase significantly over the next 20-30 years.

Revenues have been rising for 19 quarters in a row, and jumped 15% in the past year to top $200 million. Net income turned positive in 2015 and the company made $50 million last year. Earnings are expected to climb from 89 cents a share this year to $1.16 in 2018.

It is a good time to buy. The stock price is down 15% from its high, largely due to its acquisition of LifeWatch AG, a competing maker of remote cardiac monitors, for $260 million.

BEAT is selling for 18 times earnings, which is relatively modest for a biotech company. Profit margins exceed 24% and return on equity (ROE) is a robust 44%. It has more than $25 million in cash, which is plenty to cover its modest $25 million in long-term debt.

BioTelemetry is a small-cap stock ($900 million in revenues) that does not pay a dividend, so this is more speculative than our other recommendations.

Do not chase this stock. As a long-term investment, BEAT looks promising. Let’s add it to our model stock portfolio.

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