State Street Corp boosted its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 2.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 756,298 shares of the medical research company’s stock after purchasing an additional 18,500 shares during the period. State Street Corp owned approximately 2.34% of BioTelemetry worth $25,297,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Icon Advisers Inc. Co. grew its position in BioTelemetry by 31.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 113,278 shares of the medical research company’s stock worth $3,789,000 after purchasing an additional 26,891 shares during the period. Fiera Capital Corp acquired a new stake in BioTelemetry during the 2nd quarter worth about $6,577,000. Renaissance Group LLC grew its position in BioTelemetry by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 12,405 shares of the medical research company’s stock worth $415,000 after purchasing an additional 301 shares during the period. Credit Suisse AG grew its position in BioTelemetry by 58.2% during the 1st quarter. Credit Suisse AG now owns 57,998 shares of the medical research company’s stock worth $1,679,000 after purchasing an additional 21,327 shares during the period. Finally, Virginia Retirement Systems ET AL grew its position in BioTelemetry by 20.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 75,600 shares of the medical research company’s stock worth $2,529,000 after purchasing an additional 13,000 shares during the period. 77.87% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on BEAT. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Friday, August 11th. Sidoti reaffirmed a “buy” rating and set a $49.00 price target (up from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. BidaskClub downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. assumed coverage on BioTelemetry in a research report on Monday, October 23rd. They set a “buy” rating and a $41.00 target price on the stock. Finally, Off Wall Street assumed coverage on BioTelemetry in a research report on Friday, September 15th. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $42.86.
Shares of BioTelemetry, Inc. (NASDAQ BEAT) opened at $25.85 on Tuesday. BioTelemetry, Inc. has a 12-month low of $18.35 and a 12-month high of $39.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.48 and a current ratio of 1.60. The company has a market capitalization of $787.52, a PE ratio of 33.29, a PEG ratio of 1.46 and a beta of 0.58.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, November 7th. The medical research company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). BioTelemetry had a net margin of 16.10% and a return on equity of 13.66%. The business had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.10 million. During the same quarter last year, the business earned $0.21 earnings per share. BioTelemetry’s revenue was up 52.7% on a year-over-year basis. analysts predict that BioTelemetry, Inc. will post 0.86 earnings per share for the current fiscal year.
BioTelemetry Company Profile
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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