Raymond James Financial Services Advisors Inc. Takes Position in BioTelemetry, Inc. (BEAT)
Raymond James Financial Services Advisors Inc. purchased a new stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,332 shares of the medical research company’s stock, valued at approximately $212,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEAT. Pinebridge Investments L.P. grew its holdings in BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares in the last quarter. Victory Capital Management Inc. grew 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 acquiring an additional 626 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new position in BioTelemetry during the 2nd quarter worth $142,000. US Bancorp DE acquired a new position in BioTelemetry during the 2nd quarter worth $145,000. Finally, State of Alaska Department of Revenue grew 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 acquiring an additional 2,508 shares in the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.
BioTelemetry, Inc. (NASDAQ BEAT) opened at $25.85 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.48. BioTelemetry, Inc. has a 52-week low of $18.35 and a 52-week high of $39.20. The stock has a market cap of $787.52, a PE ratio of 33.29, a PEG ratio of 1.46 and a beta of 0.58.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, November 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The business had revenue of $81.02 million during the quarter, compared to the consensus estimate of $82.10 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. research analysts anticipate that BioTelemetry, Inc. will post 0.86 earnings per share for the current year.
Several research analysts have weighed in on the stock. Dougherty & Co reissued a “buy” rating and set a $40.00 price objective on shares of BioTelemetry in a report on Wednesday, November 8th. Zacks Investment Research lowered shares of BioTelemetry from a “hold” rating to a “strong sell” rating in a report on Thursday, November 2nd. Raymond James Financial, Inc. assumed coverage on shares of BioTelemetry in a report on Thursday, October 26th. They set an “outperform” rating and a $37.00 price objective for the company. SunTrust Banks, Inc. assumed coverage on shares of BioTelemetry in a report on Monday, October 23rd. They set a “buy” rating and a $41.00 price objective for the company. Finally, Off Wall Street assumed coverage on shares of BioTelemetry in a report on Friday, September 15th. They set a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $42.86.
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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