BioTelemetry Inc. (BEAT) Short Interest Update
BioTelemetry Inc. (NASDAQ:BEAT) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 489,795 shares, a decline of 19.7% from the August 31st total of 609,761 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 343,908 shares, the days-to-cover ratio is currently 1.4 days.
BioTelemetry (NASDAQ:BEAT) opened at 18.57 on Friday. BioTelemetry has a one year low of $8.74 and a one year high of $21.42. The stock’s 50 day moving average is $19.15 and its 200-day moving average is $16.38. The firm has a market cap of $520.42 million, a price-to-earnings ratio of 39.51 and a beta of 0.81.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company earned $52.68 million during the quarter, compared to analyst estimates of $50.27 million. BioTelemetry had a net margin of 7.11% and a return on equity of 25.36%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. On average, equities research analysts expect that BioTelemetry will post $0.76 earnings per share for the current fiscal year.
In other news, General Counsel Peter Ferola sold 4,352 shares of BioTelemetry stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $18.23, for a total transaction of $79,336.96. Following the transaction, the general counsel now owns 30,989 shares in the company, valued at $564,929.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph H. Capper sold 86,681 shares of BioTelemetry stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $18.52, for a total transaction of $1,605,332.12. Following the transaction, the insider now owns 287,045 shares in the company, valued at approximately $5,316,073.40. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of BioTelemetry by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,291,180 shares of the company’s stock valued at $21,046,000 after buying an additional 43,137 shares during the period. Vanguard Group Inc. raised its stake in shares of BioTelemetry by 13.4% in the second quarter. Vanguard Group Inc. now owns 1,164,543 shares of the company’s stock valued at $18,982,000 after buying an additional 137,950 shares during the period. State Street Corp raised its stake in shares of BioTelemetry by 18.4% in the second quarter. State Street Corp now owns 552,741 shares of the company’s stock valued at $9,013,000 after buying an additional 85,816 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in shares of BioTelemetry during the second quarter valued at about $7,636,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of BioTelemetry during the second quarter valued at about $5,991,000. Institutional investors own 78.28% of the company’s stock.
A number of equities analysts have recently commented on BEAT shares. Sidoti started coverage on shares of BioTelemetry in a report on Tuesday, September 13th. They set a “buy” rating and a $27.00 price target on the stock. Benchmark Co. lifted their price target on shares of BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Thursday, August 4th.
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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