Campbell & CO Investment Adviser LLC purchased a new position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 6,921 shares of the medical research company’s stock, valued at approximately $232,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of BEAT. FNY Partners Fund LP bought a new position in shares of BioTelemetry during the first quarter worth $142,000. Dubuque Bank & Trust Co. bought a new position in shares of BioTelemetry during the second quarter worth $142,000. US Bancorp DE bought a new position in shares of BioTelemetry during the second quarter worth $145,000. State of Alaska Department of Revenue raised its position in shares of BioTelemetry by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 5,638 shares of the medical research company’s stock worth $188,000 after buying an additional 2,508 shares in the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock worth $192,000 after buying an additional 465 shares in the last quarter. 82.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ BEAT) opened at 34.55 on Wednesday. The firm has a 50-day moving average of $32.42 and a 200-day moving average of $28.64. The firm has a market cap of $990.03 million, a P/E ratio of 21.58 and a beta of 0.76. BioTelemetry, Inc. has a 12-month low of $15.25 and a 12-month high of $35.75.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Wednesday, May 3rd. The medical research company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $55.88 million for the quarter, compared to analyst estimates of $55.11 million. BioTelemetry had a net margin of 22.77% and a return on equity of 19.87%. On average, equities analysts forecast that BioTelemetry, Inc. will post $0.88 earnings per share for the current fiscal year.
BEAT has been the topic of a number of research reports. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Benchmark Co. raised their price target on shares of BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Lake Street Capital reaffirmed 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. Dougherty & Co raised their price target on shares of BioTelemetry from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Finally, Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.20.
In related news, Director Robert J. Rubin sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $28.14, for a total transaction of $422,100.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by company insiders.
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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