Campbell & CO Investment Adviser LLC purchased a new position in BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,921 shares of the medical research company’s stock, valued at approximately $232,000.
Several other institutional investors also recently modified their holdings of BEAT. Geneva Advisors LLC bought a new position in shares of BioTelemetry during the first quarter worth approximately $668,000. Bowling Portfolio Management LLC raised its position in shares of BioTelemetry by 22.4% in the first quarter. Bowling Portfolio Management LLC now owns 28,112 shares of the medical research company’s stock worth $814,000 after buying an additional 5,146 shares during the last quarter. Emerald Advisers Inc. PA raised its position in shares of BioTelemetry by 5.4% in the first quarter. Emerald Advisers Inc. PA now owns 24,271 shares of the medical research company’s stock worth $703,000 after buying an additional 1,237 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of BioTelemetry by 2.3% in the first quarter. First Midwest Bank Trust Division now owns 63,793 shares of the medical research company’s stock worth $1,847,000 after buying an additional 1,411 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of BioTelemetry by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 450,895 shares of the medical research company’s stock worth $13,054,000 after buying an additional 65,030 shares during the period. 83.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) traded up 2.22% during midday trading on Friday, reaching $34.50. 404,643 shares of the company’s stock traded hands. BioTelemetry, Inc. has a one year low of $15.25 and a one year high of $36.50. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 23.15 and a beta of 0.76. The company has a 50-day moving average of $33.52 and a 200-day moving average of $29.20.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, topping the 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 analysts’ expectations of $58.39 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. BioTelemetry’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that BioTelemetry, Inc. will post $0.99 EPS for the current year.
BEAT has been the subject of a number of research reports. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, May 2nd. Benchmark Co. upped their price objective 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 objective (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Dougherty & Co upped their price objective on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.40.
In related news, Director Robert J. Rubin sold 15,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $28.14, for a total value of $422,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.
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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