Granite Point Capital Management L.P. decreased its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,000 shares of the medical research company’s stock after selling 5,600 shares during the quarter. Granite Point Capital Management L.P. owned about 0.16% of BioTelemetry worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. acquired a new stake in shares of BioTelemetry during the 3rd quarter worth approximately $109,000. Pinebridge Investments L.P. grew its position in shares of BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after buying an additional 75 shares during the period. Victory Capital Management Inc. grew its position in shares of BioTelemetry by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock worth $140,000 after buying an additional 626 shares during the period. US Bancorp DE acquired a new stake in shares of BioTelemetry during the 2nd quarter worth approximately $145,000. Finally, Sei Investments Co. grew its position in shares of BioTelemetry by 242.8% during the 2nd quarter. Sei Investments Co. now owns 5,783 shares of the medical research company’s stock worth $193,000 after buying an additional 4,096 shares during the period. 82.23% of the stock is owned by institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) opened at $26.25 on Wednesday. BioTelemetry, Inc. has a 52-week low of $20.00 and a 52-week high of $39.20. 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 stock has a market cap of $896.08, a price-to-earnings ratio of 37.88, a P/E/G ratio of 1.73 and a beta of 0.53.
Several analysts have recently commented on the stock. Off Wall Street assumed coverage on shares of BioTelemetry in a research report on Friday, September 15th. They set a “sell” rating for the company. BidaskClub raised shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Dougherty & Co lifted their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research report on Friday, August 11th. Finally, Sidoti reissued a “buy” rating and issued a $49.00 price target (up previously from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. BioTelemetry has an average rating of “Buy” and an average target price 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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