Pitcairn Co. lowered its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,192 shares of the medical research company’s stock after selling 252 shares during the period. Pitcairn Co.’s holdings in BioTelemetry were worth $241,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of BEAT. Louisiana State Employees Retirement System raised its position in BioTelemetry by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the medical research company’s stock valued at $391,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in BioTelemetry by 0.7% in the second quarter. Arizona State Retirement System now owns 14,900 shares of the medical research company’s stock valued at $498,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in BioTelemetry by 5.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the medical research company’s stock valued at $224,000 after buying an additional 370 shares during the last quarter. Texas Permanent School Fund raised its position in BioTelemetry by 1.8% in the second quarter. Texas Permanent School Fund now owns 20,921 shares of the medical research company’s stock valued at $700,000 after buying an additional 380 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its position in BioTelemetry by 0.6% in the first quarter. ClariVest Asset Management LLC now owns 70,241 shares of the medical research company’s stock valued at $2,033,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 76.72% of the company’s stock.

BioTelemetry, Inc. (BEAT) opened at 35.75 on Friday. The firm has a 50-day moving average of $34.16 and a 200-day moving average of $29.60. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 23.99 and a beta of 0.76. BioTelemetry, Inc. has a one year low of $15.25 and a one year high of $37.50.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company had revenue of $58.10 million for the quarter, compared to analyst estimates of $58.39 million. During the same quarter in the prior year, the business posted $0.20 EPS. BioTelemetry’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that BioTelemetry, Inc. will post $0.99 EPS for the current year.

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Several research firms recently weighed in on BEAT. Sidoti restated a “buy” rating and set a $49.00 target price (up previously from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Dougherty & Co lifted their target price on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Lake Street Capital restated a “buy” rating and set a $50.00 target price (up previously from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. Finally, Benchmark Co. began coverage on shares of BioTelemetry in a report on Thursday, June 29th. They set a “buy” rating and a $38.00 target price on the stock. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.40.

About BioTelemetry

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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