Schwab Charles Investment Management Inc. Has $4.18 Million Stake in BioTelemetry, Inc. (BEAT)
Schwab Charles Investment Management Inc. boosted its holdings in BioTelemetry, Inc. (NASDAQ:BEAT) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,672 shares of the medical research company’s stock after purchasing an additional 14,238 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in BioTelemetry were worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in BEAT. Hood River Capital Management LLC acquired a new position in BioTelemetry in the second quarter valued at $26,694,000. Bank of New York Mellon Corp increased its stake in BioTelemetry by 39.2% in the third quarter. Bank of New York Mellon Corp now owns 1,435,701 shares of the medical research company’s stock valued at $47,379,000 after purchasing an additional 404,107 shares during the last quarter. Castleark Management LLC acquired a new position in BioTelemetry in the second quarter valued at $11,806,000. Stifel Financial Corp acquired a new position in BioTelemetry in the second quarter valued at $10,781,000. Finally, Fiera Capital Corp acquired a new position in BioTelemetry in the second quarter valued at $6,577,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Several equities analysts recently commented on BEAT shares. Off Wall Street started coverage on BioTelemetry in a research note on Friday, September 15th. They issued a “sell” rating for the company. BidaskClub upgraded BioTelemetry from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 19th. Zacks Investment Research lowered BioTelemetry from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. SunTrust Banks started coverage on BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 target price for the company. Finally, Dougherty & Co reiterated a “buy” rating and issued a $40.00 target price on shares of BioTelemetry in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $42.86.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, November 7th. The medical research company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.09). The firm had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.10 million. BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The business’s revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. sell-side analysts anticipate that BioTelemetry, Inc. will post 0.83 EPS for the current fiscal 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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