Gabelli Funds LLC lifted its position in BioTelemetry Inc (NASDAQ:BEAT) by 62.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,000 shares of the medical research company’s stock after purchasing an additional 33,000 shares during the quarter. Gabelli Funds LLC owned about 0.25% of BioTelemetry worth $3,503,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its holdings in shares of BioTelemetry by 54.9% in the third quarter. Gamco Investors INC. ET AL now owns 21,152 shares of the medical research company’s stock worth $862,000 after purchasing an additional 7,500 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of BioTelemetry by 66.5% in the third quarter. Russell Investments Group Ltd. now owns 378,631 shares of the medical research company’s stock worth $15,421,000 after purchasing an additional 151,163 shares during the period. SFE Investment Counsel bought a new position in shares of BioTelemetry in the third quarter worth $208,000. Oppenheimer Asset Management Inc. increased its holdings in shares of BioTelemetry by 250.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 3,803 shares of the medical research company’s stock worth $155,000 after purchasing an additional 2,717 shares during the period. Finally, State of Tennessee Treasury Department increased its holdings in shares of BioTelemetry by 60.2% in the third quarter. State of Tennessee Treasury Department now owns 25,938 shares of the medical research company’s stock worth $1,057,000 after purchasing an additional 9,745 shares during the period. 91.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:BEAT opened at $45.80 on Friday. BioTelemetry Inc has a 52-week low of $37.07 and a 52-week high of $80.92. The firm has a fifty day moving average of $40.53 and a 200 day moving average of $45.18. The firm has a market capitalization of $1.46 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.09 and a current ratio of 2.19.
BioTelemetry (NASDAQ:BEAT) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. BioTelemetry had a net margin of 8.98% and a return on equity of 22.27%. The company had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.19 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that BioTelemetry Inc will post 1.97 EPS for the current fiscal year.
In related news, SVP Peter Ferola sold 44,276 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $39.03, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.50% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of BioTelemetry from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of BioTelemetry from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Sidoti cut their target price on shares of BioTelemetry from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. TheStreet lowered shares of BioTelemetry from a “b-” rating to a “c+” rating in a research report on Friday, August 16th. Finally, Raymond James lowered shares of BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. BioTelemetry currently has an average rating of “Buy” and a consensus price target of $71.83.
BioTelemetry Company Profile
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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