BioTelemetry Inc (BEAT) Holdings Boosted by BlackRock Inc.

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BlackRock Inc. raised its stake in BioTelemetry Inc (NASDAQ:BEAT) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 4,257,982 shares of the medical research company’s stock after acquiring an additional 164,145 shares during the period. BlackRock Inc. owned approximately 0.13% of BioTelemetry worth $132,212,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BEAT. American International Group Inc. grew its position in shares of BioTelemetry by 11.4% during the fourth quarter. American International Group Inc. now owns 25,139 shares of the medical research company’s stock worth $752,000 after acquiring an additional 2,568 shares during the last quarter. Millrace Asset Group Inc. grew its position in shares of BioTelemetry by 103.9% during the fourth quarter. Millrace Asset Group Inc. now owns 80,664 shares of the medical research company’s stock worth $2,411,000 after acquiring an additional 41,100 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of BioTelemetry by 8,866.8% during the fourth quarter. Macquarie Group Ltd. now owns 756,263 shares of the medical research company’s stock worth $22,612,000 after acquiring an additional 747,829 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of BioTelemetry by 180.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,434 shares of the medical research company’s stock worth $880,000 after acquiring an additional 18,945 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of BioTelemetry by 223.7% during the fourth quarter. Arizona State Retirement System now owns 51,670 shares of the medical research company’s stock worth $1,545,000 after acquiring an additional 35,710 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

In related news, SVP Daniel Wisniewski sold 40,000 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $41.09, for a total transaction of $1,643,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert J. Rubin sold 5,000 shares of the stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $42.00, for a total value of $210,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 478,604 shares of company stock valued at $20,065,817. Corporate insiders own 9.60% of the company’s stock.

Shares of BioTelemetry opened at $45.10 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.83. BioTelemetry Inc has a 1-year low of $23.30 and a 1-year high of $47.35. The firm has a market cap of $1.51 billion, a P/E ratio of 46.49, a P/E/G ratio of 3.46 and a beta of 0.85.

BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings results on Wednesday, April 25th. The medical research company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.16. BioTelemetry had a positive return on equity of 16.63% and a negative net margin of 3.13%. The firm had revenue of $94.50 million during the quarter, compared to the consensus estimate of $91.55 million. During the same period last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 69.1% on a year-over-year basis. sell-side analysts predict that BioTelemetry Inc will post 1.33 earnings per share for the current fiscal year.

BEAT has been the topic of a number of research reports. TheStreet upgraded shares of BioTelemetry from a “c” rating to a “b-” rating in a research report on Tuesday, May 29th. ValuEngine upgraded shares of BioTelemetry from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Benchmark restated a “buy” rating and set a $46.00 target price (up from $44.00) on shares of BioTelemetry in a research report on Thursday, April 26th. BidaskClub raised BioTelemetry from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Finally, Zacks Investment Research downgraded BioTelemetry from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. BioTelemetry presently has a consensus rating of “Buy” and an average price target of $44.43.

BioTelemetry Profile

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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