JPMorgan Chase & Co. trimmed its holdings in BioTelemetry, Inc. (NASDAQ:BEAT) by 31.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,591 shares of the medical research company’s stock after selling 27,885 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of BioTelemetry worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of BEAT. Bank of New York Mellon Corp increased its stake in shares of BioTelemetry by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock worth $15,249,000 after acquiring an additional 24,601 shares in the last quarter. Comerica Bank increased its stake in shares of BioTelemetry by 5.3% in the 1st quarter. Comerica Bank now owns 31,371 shares of the medical research company’s stock worth $1,018,000 after acquiring an additional 1,568 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of BioTelemetry by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 206,649 shares of the medical research company’s stock worth $5,983,000 after acquiring an additional 3,115 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of BioTelemetry by 35.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 89,484 shares of the medical research company’s stock worth $2,591,000 after acquiring an additional 23,312 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of BioTelemetry by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 25,039 shares of the medical research company’s stock worth $725,000 after acquiring an additional 3,779 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

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Shares of BioTelemetry, Inc. (NASDAQ:BEAT) opened at 30.85 on Friday. The stock has a market capitalization of $998.31 million, a P/E ratio of 20.70 and a beta of 0.68. The company’s 50-day moving average is $34.28 and its 200 day moving average is $32.21. BioTelemetry, Inc. has a 12 month low of $15.25 and a 12 month high of $39.20.

BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The business 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%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Equities research analysts predict that BioTelemetry, Inc. will post $0.99 earnings per share for the current year.

Several brokerages recently issued reports on BEAT. Sidoti reiterated a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Dougherty & Co increased 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, August 9th. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Friday, August 11th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $50.00 price target (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $44.40.

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.

Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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