Swiss National Bank Maintains Position in BioTelemetry, Inc. (BEAT)
Swiss National Bank held its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,800 shares of the medical research company’s stock at the close of the second quarter. Swiss National Bank owned about 0.15% of BioTelemetry worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in BioTelemetry by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock worth $140,000 after purchasing an additional 626 shares during the last quarter. FNY Partners Fund LP acquired a new stake in BioTelemetry during the 1st quarter worth approximately $142,000. Dubuque Bank & Trust Co. acquired a new stake in BioTelemetry during the 2nd quarter worth approximately $142,000. US Bancorp DE acquired a new stake in BioTelemetry during the 2nd quarter worth approximately $145,000. Finally, State of Alaska Department of Revenue lifted its holdings in BioTelemetry by 80.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,638 shares of the medical research company’s stock worth $188,000 after purchasing an additional 2,508 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.
Several analysts recently weighed in on BEAT shares. Off Wall Street started coverage on BioTelemetry in a report on Friday, September 15th. They set a “sell” rating for the company. Benchmark Co. lifted their price target on BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a report on Friday, August 11th. Dougherty & Co lifted 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. Finally, BidaskClub raised BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $44.40.
Shares of BioTelemetry, Inc. (BEAT) opened at 32.60 on Wednesday. BioTelemetry, Inc. has a 12-month low of $15.25 and a 12-month high of $39.20. The company’s 50-day moving average price is $34.70 and its 200 day moving average price is $32.17. The firm has a market capitalization of $1.05 billion, a PE ratio of 21.88 and a beta of 0.68.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share 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 during the quarter, compared to analyst estimates of $58.39 million. During the same period in the prior year, the company earned $0.20 earnings per share. BioTelemetry’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that BioTelemetry, Inc. will post $0.99 earnings per share 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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