BioTelemetry Inc. (BEAT) Stake Decreased by Wells Fargo & Company MN
Wells Fargo & Company MN decreased its stake in BioTelemetry Inc. (NASDAQ:BEAT) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 690,501 shares of the company’s stock after selling 57,231 shares during the period. Wells Fargo & Company MN owned 2.46% of BioTelemetry worth $12,822,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BEAT. DIAM Co. Ltd. purchased a new stake in BioTelemetry during the second quarter valued at $133,000. Acrospire Investment Management LLC raised its stake in shares of BioTelemetry by 147.9% in the second quarter. Acrospire Investment Management LLC now owns 8,214 shares of the company’s stock worth $134,000 after buying an additional 4,900 shares in the last quarter. Springbok Capital Management LLC bought a new stake in shares of BioTelemetry during the first quarter worth $146,000. Bank of Montreal Can bought a new stake in shares of BioTelemetry during the second quarter worth $164,000. Finally, BlackRock Inc. raised its stake in shares of BioTelemetry by 691.2% in the second quarter. BlackRock Inc. now owns 11,448 shares of the company’s stock worth $187,000 after buying an additional 10,001 shares in the last quarter. 82.12% of the stock is owned by institutional investors.
Shares of BioTelemetry Inc. (NASDAQ:BEAT) remained flat at $19.60 during trading on Monday. 95,860 shares of the company were exchanged. The stock has a 50-day moving average price of $18.33 and a 200 day moving average price of $18.00. BioTelemetry Inc. has a one year low of $8.74 and a one year high of $21.68. The firm has a market capitalization of $553.33 million, a PE ratio of 37.69 and a beta of 1.09.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The business earned $53.10 million during the quarter, compared to analysts’ expectations of $52.92 million. BioTelemetry had a net margin of 7.58% and a return on equity of 26.70%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. On average, equities analysts predict that BioTelemetry Inc. will post $0.79 earnings per share for the current fiscal year.
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BEAT has been the subject of a number of research reports. Sidoti initiated coverage on shares of BioTelemetry in a report on Tuesday, September 13th. They issued a “buy” rating and a $27.00 price target for the company. Benchmark Co. raised their price target on shares of BioTelemetry from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Lake Street Capital reissued a “buy” rating and issued a $24.00 price target on shares of BioTelemetry in a report on Wednesday, October 5th.
In related news, insider Joseph H. Capper sold 26,847 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $18.23, for a total transaction of $489,420.81. Following the completion of the transaction, the insider now directly owns 189,838 shares in the company, valued at approximately $3,460,746.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Fred Broadway sold 12,121 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $19.07, for a total transaction of $231,147.47. Following the transaction, the senior vice president now owns 71,719 shares of the company’s stock, valued at $1,367,681.33. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.
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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