Marshall Wace North America L.P. Purchases New Position in BioTelemetry, Inc. (BEAT)
Marshall Wace North America L.P. purchased a new position in BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 127,129 shares of the medical research company’s stock, valued at approximately $4,195,000. Marshall Wace North America L.P. owned approximately 0.44% of BioTelemetry at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Dubuque Bank & Trust Co. acquired a new stake in shares of BioTelemetry during the second quarter worth $142,000. US Bancorp DE acquired a new stake in shares of BioTelemetry during the second quarter worth $145,000. FNY Partners Fund LP acquired a new stake in shares of BioTelemetry during the first quarter worth $142,000. State of Alaska Department of Revenue increased its stake in shares of BioTelemetry by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 5,638 shares of the medical research company’s stock worth $188,000 after buying an additional 2,508 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of BioTelemetry by 242.8% in the second 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 last quarter. Hedge funds and other institutional investors own 77.99% of the company’s stock.
BioTelemetry, Inc. (NASDAQ BEAT) opened at 37.15 on Friday. The company has a market cap of $1.20 billion, a PE ratio of 24.93 and a beta of 0.76. BioTelemetry, Inc. has a 52-week low of $15.25 and a 52-week high of $37.71. The stock’s 50 day moving average is $35.15 and its 200-day moving average is $30.51.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. BioTelemetry’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that BioTelemetry, Inc. will post $0.99 EPS for the current fiscal year.
A number of analysts have weighed in on the company. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Sidoti reiterated a “buy” rating and set a $49.00 price target (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Dougherty & Co increased their price target on BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a 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 objective on the stock in a research report on Friday, August 11th. Finally, Lake Street Capital reissued a “buy” rating and set a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. BioTelemetry presently has a consensus rating of “Buy” and an average 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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