BioTelemetry, Inc. (BEAT) Position Boosted by Vanguard Group Inc.
Vanguard Group Inc. raised its position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 11.7% during the first quarter, Holdings Channel reports. The fund owned 1,674,580 shares of the medical research company’s stock after buying an additional 174,844 shares during the period. Vanguard Group Inc. owned approximately 0.06% of BioTelemetry worth $48,480,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC raised its position in shares of BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock valued at $192,000 after buying an additional 465 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of BioTelemetry by 525.8% in the first quarter. LS Investment Advisors LLC now owns 7,385 shares of the medical research company’s stock valued at $214,000 after buying an additional 6,205 shares in the last quarter. Pitcairn Co. purchased a new position in shares of BioTelemetry during the first quarter valued at about $215,000. Koch Industries Inc. purchased a new position in shares of BioTelemetry during the first quarter valued at about $250,000. Finally, Concorde Asset Management LLC purchased a new position in shares of BioTelemetry during the first quarter valued at about $285,000. 83.91% of the stock is owned by institutional investors and hedge funds.
BioTelemetry, Inc. (BEAT) traded up 1.63% on Friday, reaching $34.30. The company had a trading volume of 46,416 shares. The company has a market capitalization of $1.11 billion, a P/E ratio of 23.02 and a beta of 0.76. BioTelemetry, Inc. has a 52 week low of $15.25 and a 52 week high of $36.50. The stock’s 50-day moving average is $33.38 and its 200-day moving average is $29.11.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. BioTelemetry’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Equities research analysts forecast that BioTelemetry, Inc. will post $0.99 EPS for the current fiscal year.
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BEAT has been the subject of several research reports. Zacks Investment Research lowered BioTelemetry from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Benchmark Co. initiated coverage on BioTelemetry in a research report on Thursday, June 29th. They issued a “buy” rating and a $38.00 target price for the company. Lake Street Capital reissued a “buy” rating and issued a $50.00 target price (up previously from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. BidaskClub lowered BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Dougherty & Co increased their target price on BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. BioTelemetry has an average rating of “Buy” and a consensus target price of $44.20.
In related news, Director Robert J. Rubin sold 15,000 shares of the business’s 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.
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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