Rothschild Asset Management Inc. acquired a new position in BioTelemetry, Inc. (NASDAQ:BEAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,721 shares of the medical research company’s stock, valued at approximately $1,998,000. Rothschild Asset Management Inc. owned about 0.21% of BioTelemetry at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in BEAT. Great West Life Assurance Co. Can raised its stake in shares of BioTelemetry by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 40,699 shares of the medical research company’s stock worth $1,361,000 after buying an additional 1,600 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of BioTelemetry by 5.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the medical research company’s stock worth $224,000 after buying an additional 370 shares in the last quarter. Strs Ohio raised its stake in shares of BioTelemetry by 126.0% in the second quarter. Strs Ohio now owns 61,700 shares of the medical research company’s stock worth $2,063,000 after buying an additional 34,400 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of BioTelemetry during the second quarter worth approximately $232,000. Finally, Pembroke Management LTD acquired a new stake in shares of BioTelemetry during the second quarter worth approximately $9,168,000. 76.72% of the stock is currently owned by institutional investors and hedge funds.
BioTelemetry, Inc. (NASDAQ BEAT) traded down 0.14% during mid-day trading on Friday, reaching $35.70. 520,132 shares of the company’s stock traded hands. The stock has a market cap of $1.16 billion, a P/E ratio of 23.96 and a beta of 0.76. The company has a 50 day moving average price of $34.26 and a 200-day moving average price of $29.69. BioTelemetry, Inc. has a 12 month low of $15.25 and a 12 month high of $37.50.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The business had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. During the same period last year, the business earned $0.20 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that BioTelemetry, Inc. will post $0.99 EPS for the current year.
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A number of analysts have recently commented on the stock. BidaskClub raised shares of BioTelemetry from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a research report on Friday, August 11th. Sidoti reissued a “buy” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BioTelemetry in a research report on Thursday, August 10th. Dougherty & Co boosted their price objective on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Benchmark Co. boosted their price objective on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.40.
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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