Bank of New York Mellon Corp raised its position in shares of BioTelemetry Inc. (NASDAQ:BEAT) by 15.9% during the second quarter, Holdings Channel reports. The firm owned 237,427 shares of the company’s stock after buying an additional 32,635 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of BioTelemetry worth $3,870,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in BioTelemetry by 11.8% in the first quarter. State Street Corp now owns 466,925 shares of the company’s stock worth $5,452,000 after buying an additional 49,274 shares during the period. Springbok Capital Management LLC acquired a new stake in BioTelemetry during the first quarter worth $146,000. First Quadrant L P CA boosted its stake in BioTelemetry by 56.4% in the second quarter. First Quadrant L P CA now owns 12,200 shares of the company’s stock worth $199,000 after buying an additional 4,400 shares during the period. Strs Ohio boosted its stake in BioTelemetry by 8.2% in the second quarter. Strs Ohio now owns 18,500 shares of the company’s stock worth $301,000 after buying an additional 1,400 shares during the period. Finally, Geode Capital Management LLC boosted its stake in BioTelemetry by 2.1% in the first quarter. Geode Capital Management LLC now owns 177,680 shares of the company’s stock worth $2,075,000 after buying an additional 3,654 shares during the period. 78.28% of the stock is currently owned by institutional investors.
Shares of BioTelemetry Inc. (NASDAQ:BEAT) traded down 0.21% during midday trading on Wednesday, reaching $18.66. The company had a trading volume of 164,060 shares. The firm’s 50 day moving average price is $19.36 and its 200-day moving average price is $16.30. BioTelemetry Inc. has a 12 month low of $8.74 and a 12 month high of $21.42. The company has a market capitalization of $522.95 million, a P/E ratio of 39.70 and a beta of 0.81.
BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $52.68 million for the quarter, compared to analyst estimates of $50.27 million. BioTelemetry had a net margin of 7.11% and a return on equity of 25.36%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. Analysts anticipate that BioTelemetry Inc. will post $0.76 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the company. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Thursday, August 4th. Sidoti assumed coverage on BioTelemetry in a report on Tuesday, September 13th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Benchmark Co. boosted their target price on BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd.
In related news, SVP Fred Broadway sold 5,877 shares of BioTelemetry stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.16, for a total transaction of $112,603.32. Following the sale, the senior vice president now directly owns 76,491 shares of the company’s stock, valued at approximately $1,465,567.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Wisniewski sold 9,025 shares of BioTelemetry stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $20.96, for a total transaction of $189,164.00. Following the sale, the senior vice president now directly owns 68,501 shares in the company, valued at $1,435,780.96. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.
BioTelemetry Company Profile
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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