JPMorgan Chase & Co. bought a new stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 68,453 shares of the company’s stock, valued at approximately $1,271,000.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in BioTelemetry by 691.2% in the second quarter. BlackRock Inc. now owns 11,448 shares of the company’s stock valued at $187,000 after buying an additional 10,001 shares during the period. Quantbot Technologies LP acquired a new position in BioTelemetry during the third quarter valued at approximately $188,000. Louisiana State Employees Retirement System acquired a new position in BioTelemetry during the third quarter valued at approximately $230,000. Arizona State Retirement System acquired a new position in BioTelemetry during the third quarter valued at approximately $269,000. Finally, Nationwide Fund Advisors boosted its position in BioTelemetry by 3.5% in the second quarter. Nationwide Fund Advisors now owns 17,719 shares of the company’s stock valued at $289,000 after buying an additional 601 shares during the period. Institutional investors own 82.37% of the company’s stock.
BioTelemetry, Inc. (NASDAQ:BEAT) remained flat at $22.50 during midday trading on Friday. 34,481 shares of the company’s stock were exchanged. The firm has a market cap of $635.20 million, a price-to-earnings ratio of 43.27 and a beta of 1.06. The stock has a 50-day moving average price of $22.10 and a 200 day moving average price of $19.66. BioTelemetry, Inc. has a 1-year low of $8.74 and a 1-year high of $24.10.
BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $53.10 million for the quarter, compared to analyst estimates of $52.92 million. BioTelemetry had a return on equity of 26.70% and a net margin of 7.58%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. On average, analysts predict that BioTelemetry, Inc. will post $0.80 EPS for the current fiscal year.
BEAT has been the topic of several research analyst reports. Lake Street Capital restated a “buy” rating and set a $24.00 price objective on shares of BioTelemetry in a research note on Wednesday, October 5th. Zacks Investment Research cut BioTelemetry from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Dougherty & Co initiated coverage on BioTelemetry in a research note on Friday, December 2nd. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Gabelli restated a “buy” rating on shares of BioTelemetry in a research note on Tuesday, December 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. BioTelemetry currently has an average rating of “Buy” and an average price target of $25.00.
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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