Zacks Investment Management Sells 5,552 Shares of BioTelemetry, Inc. (BEAT)
Zacks Investment Management trimmed its holdings in BioTelemetry, Inc. (NASDAQ:BEAT) by 39.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,392 shares of the medical research company’s stock after selling 5,552 shares during the period. Zacks Investment Management’s holdings in BioTelemetry were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its stake in BioTelemetry by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock valued at $126,000 after buying an additional 75 shares in the last quarter. Victory Capital Management Inc. grew its stake in BioTelemetry by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after buying an additional 626 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in BioTelemetry in the 2nd quarter valued at approximately $142,000. US Bancorp DE purchased a new position in BioTelemetry in the 2nd quarter valued at approximately $145,000. Finally, FNY Partners Fund LP purchased a new position in BioTelemetry in the 1st quarter valued at approximately $142,000. Institutional investors and hedge funds own 77.60% of the company’s stock.
BioTelemetry, Inc. (NASDAQ BEAT) opened at 33.65 on Friday. The company has a market capitalization of $1.09 billion, a P/E ratio of 22.58 and a beta of 0.68. The firm has a 50-day moving average of $34.93 and a 200 day moving average of $31.94. BioTelemetry, Inc. has a one year low of $15.25 and a one year high of $39.20.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. On average, equities analysts forecast that BioTelemetry, Inc. will post $0.99 EPS for the current fiscal year.
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A number of research analysts recently weighed in on the stock. Off Wall Street assumed coverage on shares of BioTelemetry in a research note on Friday, September 15th. They issued a “sell” rating for the company. BidaskClub upgraded shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of 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. Sidoti reiterated a “buy” rating and issued a $49.00 price objective (up from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. Finally, Dougherty & Co lifted their price objective on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. One equities 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 stock. BioTelemetry currently has a consensus rating of “Buy” and a consensus price target of $44.40.
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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