Point72 Asset Management L.P. reduced its position in BioTelemetry Inc (NASDAQ:BEAT) by 60.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,300 shares of the medical research company’s stock after selling 32,600 shares during the period. Point72 Asset Management L.P. owned approximately 0.06% of BioTelemetry worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of BioTelemetry by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 228,069 shares of the medical research company’s stock worth $10,263,000 after buying an additional 10,795 shares during the last quarter. Natixis raised its holdings in BioTelemetry by 1.3% in the 2nd quarter. Natixis now owns 319,024 shares of the medical research company’s stock worth $14,356,000 after purchasing an additional 4,224 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in BioTelemetry in the 2nd quarter worth $615,000. Raymond James & Associates raised its holdings in BioTelemetry by 11.7% in the 2nd quarter. Raymond James & Associates now owns 85,338 shares of the medical research company’s stock worth $3,840,000 after purchasing an additional 8,971 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in BioTelemetry in the 2nd quarter worth $205,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Shares of BioTelemetry stock opened at $60.65 on Friday. BioTelemetry Inc has a one year low of $23.30 and a one year high of $62.80. The firm has a market capitalization of $1.99 billion, a P/E ratio of 45.60, a P/E/G ratio of 4.02 and a beta of 1.46. The company has a current ratio of 2.29, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72.

BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Wednesday, July 25th. The medical research company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.15. The company had revenue of $101.36 million for the quarter, compared to analysts’ expectations of $95.87 million. BioTelemetry had a positive return on equity of 18.02% and a negative net margin of 0.39%. BioTelemetry’s revenue for the quarter was up 74.4% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. analysts forecast that BioTelemetry Inc will post 1.51 earnings per share for the current year.

A number of equities analysts recently commented on BEAT shares. SunTrust Banks raised their target price on BioTelemetry to $67.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, June 26th. Raymond James raised their target price on BioTelemetry from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Benchmark raised their target price on BioTelemetry from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, June 20th. Finally, TheStreet raised BioTelemetry from a “c” rating to a “b-” rating in a report on Tuesday, May 29th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.50.

In other BioTelemetry news, Director Kirk E. Gorman sold 625 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $62.30, for a total transaction of $38,937.50. Following the sale, the director now directly owns 173,940 shares of the company’s stock, valued at $10,836,462. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kirk E. Gorman sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $50.74, for a total value of $380,550.00. Following the sale, the director now directly owns 180,815 shares in the company, valued at $9,174,553.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 346,625 shares of company stock worth $18,810,613. Insiders own 9.60% of the company’s stock.

BioTelemetry Company Profile

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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