Summit Creek Advisors LLC Has $11.21 Million Stake in BioTelemetry, Inc. (BEAT)
Summit Creek Advisors LLC cut its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,696 shares of the medical research company’s stock after selling 2,525 shares during the quarter. BioTelemetry comprises approximately 2.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 20th biggest position. Summit Creek Advisors LLC owned approximately 1.05% of BioTelemetry worth $11,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Pinebridge Investments L.P. increased its holdings in shares of BioTelemetry by 2.0% during the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 75 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of BioTelemetry by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 626 shares in the last quarter. Dubuque Bank & Trust Co. bought a new position in shares of BioTelemetry during the second quarter valued at $142,000. US Bancorp DE bought a new position in shares of BioTelemetry during the second quarter valued at $145,000. Finally, FNY Partners Fund LP bought a new position in shares of BioTelemetry during the first quarter valued at $142,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.
BioTelemetry, Inc. (NASDAQ BEAT) remained flat at $31.15 during midday trading on Monday. The stock had a trading volume of 66,059 shares. The firm has a market capitalization of $1.01 billion, a P/E ratio of 20.91 and a beta of 0.68. The company’s 50-day moving average price is $33.56 and its 200-day moving average price is $32.27. BioTelemetry, Inc. has a 12-month low of $15.25 and a 12-month 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 for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $58.10 million for the quarter, compared to analyst estimates of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. On average, analysts predict that BioTelemetry, Inc. will post $0.99 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on BEAT shares. Benchmark Co. started coverage on BioTelemetry in a report on Thursday, June 29th. They set a “buy” rating and a $38.00 price target for the company. Dougherty & Co raised their price target on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective (up from $35.00) on shares of BioTelemetry in a report on Friday, July 14th. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Off Wall Street started coverage on BioTelemetry in a report on Friday, September 15th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price 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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