BioTelemetry, Inc. (BEAT) Holdings Trimmed by FNY Partners Fund LP
FNY Partners Fund LP lessened its holdings in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 18.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,020 shares of the medical research company’s stock after selling 915 shares during the quarter. FNY Partners Fund LP’s holdings in BioTelemetry were worth $134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of BEAT. Teachers Advisors LLC grew its stake in BioTelemetry by 2.6% during the 4th quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock valued at $972,000 after purchasing an additional 1,099 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in BioTelemetry by 2.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical research company’s stock valued at $336,000 after purchasing an additional 300 shares in the last quarter. Russell Investments Group Ltd. grew its stake in BioTelemetry by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 450,895 shares of the medical research company’s stock valued at $13,054,000 after purchasing an additional 65,030 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in BioTelemetry by 3.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,099 shares of the medical research company’s stock valued at $1,130,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in BioTelemetry by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 526,725 shares of the medical research company’s stock valued at $15,249,000 after purchasing an additional 24,601 shares in the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.
A number of equities research analysts have weighed in on BEAT shares. Benchmark Co. raised their price objective on BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. BidaskClub lowered BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Lake Street Capital restated a “buy” rating and set a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Friday, August 11th. Finally, Dougherty & Co raised their price objective on BioTelemetry from $37.00 to $40.00 and gave the company 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 issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $44.40.
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Shares of BioTelemetry, Inc. (BEAT) traded down 0.79% on Wednesday, hitting $37.55. The stock had a trading volume of 12,453 shares. BioTelemetry, Inc. has a 1-year low of $15.25 and a 1-year high of $39.20. The stock has a market cap of $1.22 billion, a P/E ratio of 25.20 and a beta of 0.73. The firm’s 50-day moving average is $35.76 and its 200 day moving average is $31.15.
BioTelemetry (NASDAQ:BEAT) last issued 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 return on equity of 18.75% and a net margin of 21.03%. The firm had revenue of $58.10 million for the quarter, compared to analyst estimates of $58.39 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that BioTelemetry, Inc. will post $0.99 EPS for the current year.
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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