196,616 Shares in BioTelemetry, Inc. (BEAT) Purchased by Fiera Capital Corp
Fiera Capital Corp bought a new position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 196,616 shares of the medical research company’s stock, valued at approximately $6,577,000. Fiera Capital Corp owned 0.69% of BioTelemetry at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BEAT. Teachers Advisors LLC raised its stake in BioTelemetry by 2.6% during the fourth quarter. Teachers Advisors LLC now owns 43,489 shares of the medical research company’s stock worth $972,000 after purchasing an additional 1,099 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of BioTelemetry by 2.7% in 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 acquiring an additional 300 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of BioTelemetry by 3.2% in 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 acquiring an additional 1,227 shares during the period. Bank of New York Mellon Corp raised its stake in shares of BioTelemetry by 4.9% in 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 acquiring an additional 24,601 shares during the period. Finally, Comerica Bank raised its stake in shares of BioTelemetry by 5.3% in the 1st quarter. Comerica Bank now owns 31,371 shares of the medical research company’s stock valued at $1,018,000 after acquiring an additional 1,568 shares during the period. 78.15% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on BEAT shares. Off Wall Street started coverage on shares of BioTelemetry in a report on Friday. They issued a “sell” rating for the company. Benchmark Co. upped their price target on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Lake Street Capital reaffirmed a “buy” rating and set a $50.00 price target (up from $35.00) on shares of BioTelemetry in a research note on Friday, July 14th. Finally, Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. BioTelemetry has an average rating of “Buy” and an average price target of $44.40.
BioTelemetry, Inc. (NASDAQ BEAT) opened at 32.70 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.95 and a beta of 0.73. BioTelemetry, Inc. has a one year low of $15.25 and a one year high of $39.20. The stock’s 50 day moving average is $35.92 and its 200 day moving average is $31.36.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ 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 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 business posted $0.20 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that BioTelemetry, Inc. will post $0.99 EPS for the current year.
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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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