Summit Creek Advisors LLC Boosts Position in BioTelemetry, Inc. (BEAT)
Summit Creek Advisors LLC increased its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 380,062 shares of the medical research company’s stock after purchasing an additional 40,366 shares during the quarter. BioTelemetry makes up approximately 2.1% of Summit Creek Advisors LLC’s portfolio, making the stock its 20th largest position. Summit Creek Advisors LLC’s holdings in BioTelemetry were worth $11,364,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of BEAT. Hood River Capital Management LLC acquired a new stake in shares of BioTelemetry during the second quarter worth approximately $26,694,000. Bank of New York Mellon Corp boosted its holdings in shares of BioTelemetry by 39.2% during the third quarter. Bank of New York Mellon Corp now owns 1,435,701 shares of the medical research company’s stock worth $47,379,000 after purchasing an additional 404,107 shares during the period. Castleark Management LLC acquired a new stake in shares of BioTelemetry during the second quarter worth approximately $11,806,000. Stifel Financial Corp acquired a new stake in shares of BioTelemetry during the second quarter worth approximately $10,781,000. Finally, Pembroke Management LTD boosted its holdings in shares of BioTelemetry by 63.9% during the third quarter. Pembroke Management LTD now owns 449,300 shares of the medical research company’s stock worth $14,827,000 after purchasing an additional 175,200 shares during the period. Institutional investors and hedge funds own 82.30% of the company’s stock.
BioTelemetry, Inc. (NASDAQ:BEAT) traded up $1.55 during midday trading on Tuesday, reaching $33.15. 670,000 shares of the company’s stock were exchanged, compared to its average volume of 478,944. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.48. The firm has a market capitalization of $1,070.00, a PE ratio of 25.31, a PEG ratio of 1.47 and a beta of 0.53. BioTelemetry, Inc. has a 1 year low of $21.05 and a 1 year high of $39.20.
BioTelemetry (NASDAQ:BEAT) last posted 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 business had revenue of $81.02 million during the quarter, compared to analyst estimates of $82.10 million. BioTelemetry had a net margin of 16.10% and a return on equity of 13.66%. BioTelemetry’s revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. analysts expect that BioTelemetry, Inc. will post 0.83 EPS for the current fiscal year.
BEAT has been the subject of several research reports. Zacks Investment Research cut shares of BioTelemetry from a “hold” rating to a “strong sell” rating in a report on Thursday, November 2nd. Dougherty & Co restated a “buy” rating and set a $40.00 price target on shares of BioTelemetry in a report on Wednesday, November 8th. BidaskClub upgraded shares of BioTelemetry from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Raymond James Financial initiated coverage on shares of BioTelemetry in a report on Thursday, October 26th. They set an “outperform” rating and a $37.00 price target for the company. Finally, SunTrust Banks initiated coverage on shares of BioTelemetry in a report on Monday, October 23rd. They set a “buy” rating and a $41.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. BioTelemetry currently has a consensus rating of “Hold” and a consensus price target of $42.86.
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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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