BioTelemetry, Inc. (BEAT) Position Cut by Acadian Asset Management LLC
Acadian Asset Management LLC decreased its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 90.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,972 shares of the medical research company’s stock after selling 254,243 shares during the period. Acadian Asset Management LLC’s holdings in BioTelemetry were worth $936,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Dubuque Bank & Trust Co. purchased a new position in shares of BioTelemetry during the second quarter valued at approximately $142,000. US Bancorp DE bought a new position in BioTelemetry during the second quarter worth approximately $145,000. FNY Partners Fund LP bought a new position in BioTelemetry during the first quarter worth approximately $142,000. State of Alaska Department of Revenue boosted its position in BioTelemetry by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 5,638 shares of the medical research company’s stock worth $188,000 after buying an additional 2,508 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock worth $192,000 after buying an additional 465 shares in the last quarter. 83.91% of the stock is owned by institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ BEAT) traded up 2.07% during midday trading on Friday, hitting $34.45. 195,750 shares of the stock were exchanged. The firm has a market cap of $1.11 billion, a PE ratio of 23.12 and a beta of 0.76. The firm’s 50-day moving average is $33.38 and its 200 day moving average is $29.11. BioTelemetry, Inc. has a 52-week low of $15.25 and a 52-week high of $36.50.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. On average, analysts forecast that BioTelemetry, Inc. will post $0.99 earnings per share for the current year.
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A number of equities analysts have commented on the stock. Sidoti reissued a “buy” rating and issued a $49.00 price target (up previously from $42.00) on shares of BioTelemetry in a research note on Thursday. Dougherty & Co boosted their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Benchmark Co. boosted their price target on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Finally, Lake Street Capital reissued a “buy” rating and issued a $50.00 price target (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $44.20.
In other BioTelemetry news, Director Robert J. Rubin sold 15,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.
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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