IFP Advisors Inc boosted its position in BioTelemetry Inc (NASDAQ:BEAT) by 163.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,927 shares of the medical research company’s stock after buying an additional 1,814 shares during the quarter. IFP Advisors Inc’s holdings in BioTelemetry were worth $189,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Thompson Davis & CO. Inc. raised its stake in shares of BioTelemetry by 112.0% during the second quarter. Thompson Davis & CO. Inc. now owns 2,650 shares of the medical research company’s stock valued at $119,000 after acquiring an additional 1,400 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in shares of BioTelemetry during the second quarter valued at approximately $205,000. Xact Kapitalforvaltning AB bought a new stake in shares of BioTelemetry during the first quarter valued at approximately $211,000. Amalgamated Bank bought a new stake in shares of BioTelemetry during the second quarter valued at approximately $238,000. Finally, Winslow Evans & Crocker Inc. raised its stake in shares of BioTelemetry by 2,113.0% during the third quarter. Winslow Evans & Crocker Inc. now owns 4,426 shares of the medical research company’s stock valued at $286,000 after acquiring an additional 4,226 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.
Shares of BEAT stock opened at $68.15 on Friday. The company has a market cap of $2.26 billion, a P/E ratio of 39.85, a price-to-earnings-growth ratio of 3.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.50 and a current ratio of 2.68. BioTelemetry Inc has a 52-week low of $23.30 and a 52-week high of $70.00.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.21. The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $97.89 million. BioTelemetry had a net margin of 4.34% and a return on equity of 22.56%. BioTelemetry’s revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. Sell-side analysts anticipate that BioTelemetry Inc will post 1.72 earnings per share for the current fiscal year.
In related news, Director Kirk E. Gorman sold 625 shares of BioTelemetry stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $62.30, for a total transaction of $38,937.50. Following the transaction, the director now directly owns 173,940 shares of the company’s stock, valued at $10,836,462. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daniel Wisniewski sold 31,000 shares of BioTelemetry stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $60.45, for a total transaction of $1,873,950.00. Following the transaction, the senior vice president now directly owns 57,291 shares in the company, valued at $3,463,240.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,852 shares of company stock worth $12,869,047. 9.60% of the stock is currently owned by corporate insiders.
BEAT has been the subject of several research analyst reports. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. SunTrust Banks lifted their price objective on shares of BioTelemetry to $67.00 and gave the company a “buy” rating in a report on Friday, August 31st. Raymond James cut their price objective on shares of BioTelemetry from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. Finally, Lake Street Capital lifted their price objective on shares of BioTelemetry from $50.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $61.17.
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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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