Monarch Partners Asset Management LLC bought a new stake in BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, Holdings Channel reports. The firm bought 198,760 shares of the medical research company’s stock, valued at approximately $6,649,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of BioTelemetry by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock valued at $15,249,000 after buying an additional 24,601 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of BioTelemetry by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 39,099 shares of the medical research company’s stock valued at $1,130,000 after buying an additional 1,227 shares during the last quarter. Geneva Advisors LLC bought a new position in shares of BioTelemetry during the first quarter valued at $668,000. Bowling Portfolio Management LLC raised its position in shares of BioTelemetry by 22.4% in the first quarter. Bowling Portfolio Management LLC now owns 28,112 shares of the medical research company’s stock valued at $814,000 after buying an additional 5,146 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of BioTelemetry by 5.4% in the first quarter. Emerald Advisers Inc. PA now owns 24,271 shares of the medical research company’s stock valued at $703,000 after buying an additional 1,237 shares during the last quarter. Institutional investors own 83.91% of the company’s stock.

Shares of BioTelemetry, Inc. (NASDAQ:BEAT) opened at 34.50 on Friday. The stock has a 50 day moving average of $33.52 and a 200 day moving average of $29.20. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 23.15 and a beta of 0.76. BioTelemetry, Inc. has a 52-week low of $15.25 and a 52-week high of $36.50.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. On average, analysts predict that BioTelemetry, Inc. will post $0.99 EPS for the current fiscal year.

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Several brokerages have weighed in on BEAT. Dougherty & Co upped their target price on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Benchmark Co. upped their target price on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Friday. Finally, Sidoti reiterated a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research report on Thursday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $44.40.

In other news, Director Robert J. Rubin sold 15,000 shares of BioTelemetry stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $28.14, for a total value of $422,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.60% of the company’s stock.

BioTelemetry Company Profile

BioTelemetry, Inc (BioTelemetry), formerly CardioNet, Inc, provides cardiac monitoring services, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. The Company operates in three segments: patient services, product and research services. The patient services business segment’s principal focus is on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders, through its core Mobile Cardiac Outpatient Telemetry(MCOT), event and Holter services in a healthcare setting.

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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