BioTelemetry Inc (BEAT) Stake Lowered by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. reduced its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 33.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,652 shares of the medical research company’s stock after selling 3,867 shares during the period. BioTelemetry makes up 2.5% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 6th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in BioTelemetry were worth $493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. lifted its stake in BioTelemetry by 112.0% in the second quarter. Thompson Davis & CO. Inc. now owns 2,650 shares of the medical research company’s stock worth $119,000 after purchasing an additional 1,400 shares during the last quarter. Prudential Financial Inc. lifted its stake in BioTelemetry by 2.9% in the first quarter. Prudential Financial Inc. now owns 52,206 shares of the medical research company’s stock worth $1,621,000 after purchasing an additional 1,450 shares during the last quarter. Globeflex Capital L P lifted its stake in BioTelemetry by 19.0% in the second quarter. Globeflex Capital L P now owns 9,400 shares of the medical research company’s stock worth $423,000 after purchasing an additional 1,500 shares during the last quarter. Intrust Bank NA lifted its stake in BioTelemetry by 12.1% in the second quarter. Intrust Bank NA now owns 15,162 shares of the medical research company’s stock worth $682,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in BioTelemetry by 2.9% in the first quarter. Legal & General Group Plc now owns 57,741 shares of the medical research company’s stock worth $1,778,000 after purchasing an additional 1,653 shares during the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

In other news, CEO Joseph H. Capper sold 300,000 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $53.92, for a total transaction of $16,176,000.00. Following the completion of the transaction, the chief executive officer now directly owns 387,509 shares of the company’s stock, valued at $20,894,485.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk E. Gorman sold 7,500 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $50.74, for a total transaction of $380,550.00. Following the transaction, the director now directly owns 180,815 shares of the company’s stock, valued at $9,174,553.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 429,863 shares of company stock valued at $24,367,451. Insiders own 8.30% of the company’s stock.

Several analysts have weighed in on the stock. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Raymond James boosted their price target on shares of BioTelemetry from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, September 14th. SunTrust Banks boosted their price target on shares of BioTelemetry to $67.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Lake Street Capital boosted their price target on shares of BioTelemetry from $50.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, June 26th. Eight equities research analysts have rated the stock with a buy rating, BioTelemetry currently has a consensus rating of “Buy” and an average target price of $61.50.

Shares of NASDAQ:BEAT traded down $0.12 during midday trading on Tuesday, hitting $53.85. 5,186 shares of the stock traded hands, compared to its average volume of 392,262. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 55.28, a price-to-earnings-growth ratio of 4.26 and a beta of 1.41. The company has a current ratio of 2.29, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. BioTelemetry Inc has a one year low of $23.30 and a one year high of $66.02.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Wednesday, July 25th. The medical research company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.31 by $0.15. The firm had revenue of $101.36 million during the quarter, compared to the consensus estimate of $95.87 million. BioTelemetry had a negative net margin of 0.39% and a positive return on equity of 18.02%. The company’s quarterly revenue was up 74.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts forecast that BioTelemetry Inc will post 1.51 EPS for the current fiscal year.

About BioTelemetry

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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