California State Teachers Retirement System Reduces Stake in BioTelemetry, Inc. (BEAT)
California State Teachers Retirement System cut its position in BioTelemetry, Inc. (NASDAQ:BEAT) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,823 shares of the medical research company’s stock after selling 3,300 shares during the quarter. California State Teachers Retirement System owned 0.15% of BioTelemetry worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Icon Advisers Inc. Co. grew its stake in shares of BioTelemetry by 31.1% in the second quarter. Icon Advisers Inc. Co. now owns 113,278 shares of the medical research company’s stock valued at $3,789,000 after buying an additional 26,891 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of BioTelemetry in the second quarter valued at $6,577,000. Renaissance Group LLC grew its stake in shares of BioTelemetry by 2.5% in the second quarter. Renaissance Group LLC now owns 12,405 shares of the medical research company’s stock valued at $415,000 after buying an additional 301 shares in the last quarter. Credit Suisse AG grew its stake in shares of BioTelemetry by 58.2% in the first quarter. Credit Suisse AG now owns 57,998 shares of the medical research company’s stock valued at $1,679,000 after buying an additional 21,327 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in shares of BioTelemetry by 20.8% in the second quarter. Virginia Retirement Systems ET AL now owns 75,600 shares of the medical research company’s stock valued at $2,529,000 after buying an additional 13,000 shares in the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.
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BioTelemetry, Inc. (BEAT) opened at $25.55 on Friday. The stock has a market capitalization of $782.66, a price-to-earnings ratio of 33.84, a P/E/G ratio of 1.54 and a beta of 0.58. BioTelemetry, Inc. has a fifty-two week low of $18.60 and a fifty-two week high of $39.20. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.75.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). The company had revenue of $81.02 million during the quarter, compared to analysts’ expectations of $82.10 million. BioTelemetry had a net margin of 16.10% and a return on equity of 13.66%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. research analysts anticipate that BioTelemetry, Inc. will post 0.83 EPS for the current year.
BEAT has been the subject of a number of research reports. Zacks Investment Research cut BioTelemetry from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Dougherty & Co reaffirmed a “buy” rating and issued a $40.00 price objective on shares of BioTelemetry in a research note on Wednesday, November 8th. Raymond James Financial, Inc. initiated coverage on BioTelemetry in a research note on Thursday, October 26th. They issued an “outperform” rating and a $37.00 price objective for the company. BidaskClub raised BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Finally, Off Wall Street started coverage on BioTelemetry in a report on Friday, September 15th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.86.
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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