BlackRock Inc. lifted its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,093,837 shares of the medical research company’s stock after buying an additional 281,415 shares during the period. BlackRock Inc. owned 0.13% of BioTelemetry worth $122,405,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. First Dallas Securities Inc. acquired a new position in shares of BioTelemetry during the fourth quarter worth approximately $133,000. FNY Partners Fund LP lifted its position in shares of BioTelemetry by 74.1% during the third quarter. FNY Partners Fund LP now owns 7,000 shares of the medical research company’s stock worth $231,000 after purchasing an additional 2,980 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of BioTelemetry during the third quarter worth approximately $232,000. Premier Asset Management LLC acquired a new position in shares of BioTelemetry during the third quarter worth approximately $237,000. Finally, Macquarie Group Ltd. acquired a new position in shares of BioTelemetry during the third quarter worth approximately $279,000. Institutional investors own 87.64% of the company’s stock.
In related news, insider Fred Broadway sold 54,158 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total transaction of $1,850,578.86. Following the completion of the sale, the insider now directly owns 64,880 shares of the company’s stock, valued at $2,216,949.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.60% of the company’s stock.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Thursday, February 22nd. The medical research company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. The business had revenue of $91.70 million during the quarter, compared to the consensus estimate of $88.33 million. BioTelemetry had a negative net margin of 5.56% and a positive return on equity of 14.54%. BioTelemetry’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. analysts predict that BioTelemetry, Inc. will post 1.25 EPS for the current year.
A number of equities analysts have recently issued reports on BEAT shares. BidaskClub upgraded shares of BioTelemetry from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 19th. Zacks Investment Research lowered shares of BioTelemetry from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Dougherty & Co reiterated a “buy” rating and set a $41.00 target price (up from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. Finally, TheStreet lowered shares of BioTelemetry from a “b-” rating to a “c” rating in a research report on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. BioTelemetry presently has an average rating of “Hold” and an average target price of $43.00.
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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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