State of Tennessee Treasury Department raised its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 60.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,938 shares of the medical research company’s stock after acquiring an additional 9,745 shares during the period. State of Tennessee Treasury Department’s holdings in BioTelemetry were worth $1,057,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of BEAT. Arcadia Investment Management Corp MI bought a new stake in BioTelemetry during the 2nd quarter valued at approximately $29,000. NumerixS Investment Technologies Inc bought a new stake in BioTelemetry during the 2nd quarter valued at approximately $29,000. Capital Investment Advisory Services LLC bought a new stake in BioTelemetry during the 2nd quarter valued at approximately $45,000. Tower Research Capital LLC TRC bought a new stake in BioTelemetry during the 2nd quarter valued at approximately $50,000. Finally, Quantamental Technologies LLC bought a new stake in BioTelemetry during the 2nd quarter valued at approximately $52,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Peter Ferola sold 44,276 shares of BioTelemetry stock in a transaction that occurred on 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 in the company, valued at $765,846.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is currently owned by company insiders.
Several analysts have weighed in on BEAT shares. Raymond James cut BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. TheStreet cut BioTelemetry from a “b-” rating to a “c+” rating in a research report on Friday, August 16th. Lake Street Capital reaffirmed a “buy” rating and set a $80.00 price objective (down from $90.00) on shares of BioTelemetry in a research report on Wednesday, November 6th. Zacks Investment Research cut BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised BioTelemetry from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. BioTelemetry currently has a consensus rating of “Buy” and a consensus price target of $71.83.
Shares of BEAT stock traded down $0.10 during trading hours on Wednesday, hitting $43.81. 160,800 shares of the company’s stock traded hands, compared to its average volume of 459,928. The stock’s fifty day simple moving average is $40.72 and its two-hundred day simple moving average is $45.01. BioTelemetry Inc has a 12-month low of $37.07 and a 12-month high of $80.92. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.34 and a beta of 1.31. The company has a quick ratio of 2.35, a current ratio of 2.46 and a debt-to-equity ratio of 0.51.
BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. BioTelemetry had a net margin of 8.98% and a return on equity of 21.77%. The firm had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.19 million. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts forecast that BioTelemetry Inc will post 1.96 earnings per share for the current fiscal year.
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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