Renaissance Group LLC Has $415,000 Stake in BioTelemetry, Inc. (BEAT)
Renaissance Group LLC boosted its position in BioTelemetry, Inc. (NASDAQ:BEAT) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,405 shares of the medical research company’s stock after buying an additional 301 shares during the period. Renaissance Group LLC’s holdings in BioTelemetry were worth $415,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in shares of BioTelemetry by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock valued at $972,000 after buying an additional 1,099 shares during the period. Louisiana State Employees Retirement System increased its position in shares of BioTelemetry by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical research company’s stock worth $336,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. increased its position 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 in the last quarter. Emerald Advisers Inc. PA increased 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 in the last quarter. Finally, Bowling Portfolio Management LLC increased 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 in the last quarter. Institutional investors own 77.99% of the company’s stock.
BioTelemetry, Inc. (NASDAQ BEAT) opened at 36.20 on Wednesday. The company’s 50-day moving average is $34.67 and its 200 day moving average is $30.14. BioTelemetry, Inc. has a one year low of $15.25 and a one year high of $37.50. The company has a market capitalization of $1.17 billion, a P/E ratio of 24.30 and a beta of 0.76.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The business had revenue of $58.10 million for the quarter, compared to the consensus estimate of $58.39 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. BioTelemetry’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that BioTelemetry, Inc. will post $0.99 earnings per share for the current year.
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Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, May 2nd. Sidoti reaffirmed a “buy” rating and issued a $49.00 target price (up previously from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Lake Street Capital reiterated a “buy” rating and set a $50.00 price target (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Finally, Dougherty & Co lifted their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.40.
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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