Concorde Asset Management LLC lowered its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,397 shares of the medical research company’s stock after selling 934 shares during the period. Concorde Asset Management LLC’s holdings in BioTelemetry were worth $356,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Carillon Tower Advisers Inc. increased its holdings in BioTelemetry by 0.5% in the second quarter. Carillon Tower Advisers Inc. now owns 481,207 shares of the medical research company’s stock valued at $23,169,000 after buying an additional 2,575 shares in the last quarter. Nvwm LLC increased its stake in shares of BioTelemetry by 25.5% during the 2nd quarter. Nvwm LLC now owns 7,049 shares of the medical research company’s stock worth $339,000 after purchasing an additional 1,431 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of BioTelemetry by 73.8% during the 2nd quarter. Janus Henderson Group PLC now owns 16,137 shares of the medical research company’s stock worth $777,000 after purchasing an additional 6,853 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of BioTelemetry by 113.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 239,711 shares of the medical research company’s stock worth $11,499,000 after purchasing an additional 127,508 shares in the last quarter. Finally, Altshuler Shaham Ltd increased its stake in shares of BioTelemetry by 55.8% during the 2nd quarter. Altshuler Shaham Ltd now owns 4,700 shares of the medical research company’s stock worth $807,000 after purchasing an additional 1,683 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.
Shares of BEAT stock opened at $42.07 on Friday. BioTelemetry Inc has a 52 week low of $38.45 and a 52 week high of $80.92. The company has a market cap of $1.37 billion, a PE ratio of 21.69, a P/E/G ratio of 2.04 and a beta of 1.40. The company has a current ratio of 2.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $51.94.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, July 30th. The medical research company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.08. BioTelemetry had a net margin of 11.06% and a return on equity of 22.98%. The company had revenue of $111.80 million during the quarter, compared to the consensus estimate of $111.11 million. During the same quarter in the previous year, the firm earned $0.46 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities research analysts expect that BioTelemetry Inc will post 1.98 EPS for the current fiscal year.
In other BioTelemetry news, SVP Peter Ferola sold 44,276 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $39.03, for a total transaction of $1,728,092.28. Following the completion of the transaction, the senior vice president now directly owns 19,622 shares of the company’s stock, valued at approximately $765,846.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.50% of the company’s stock.
A number of research analysts have recently weighed in on BEAT shares. ValuEngine cut shares of BioTelemetry from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. BidaskClub raised shares of BioTelemetry from a “strong sell” rating to a “sell” rating in a research note on Thursday. Raymond James lowered shares of BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Sidoti decreased their target price on shares of BioTelemetry from $95.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, TheStreet lowered shares of BioTelemetry from a “b-” rating to a “c+” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $73.50.
BioTelemetry Company Profile
BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.
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