TIAA CREF Investment Management LLC cut its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 13.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,454 shares of the medical research company’s stock after selling 20,797 shares during the period. TIAA CREF Investment Management LLC owned 0.49% of BioTelemetry worth $4,008,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mason Street Advisors LLC raised its position in BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock valued at $192,000 after buying an additional 465 shares in the last quarter. LS Investment Advisors LLC raised its position in BioTelemetry by 525.8% in the first quarter. LS Investment Advisors LLC now owns 7,385 shares of the medical research company’s stock valued at $214,000 after buying an additional 6,205 shares in the last quarter. Pitcairn Co. purchased a new position in BioTelemetry during the first quarter valued at approximately $215,000. Concorde Asset Management LLC purchased a new position in BioTelemetry during the first quarter valued at approximately $285,000. Finally, Trexquant Investment LP purchased a new position in BioTelemetry during the first quarter valued at approximately $312,000. 76.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) traded down 0.14% during midday trading on Friday, hitting $35.70. 520,132 shares of the company traded hands. BioTelemetry, Inc. has a 52 week low of $15.25 and a 52 week high of $37.50. The stock has a 50 day moving average of $34.26 and a 200-day moving average of $29.69. The stock has a market capitalization of $1.16 billion, a PE ratio of 23.96 and a beta of 0.76.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The firm had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that BioTelemetry, Inc. will post $0.99 earnings per share for the current fiscal year.
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Several equities analysts have commented on BEAT shares. Zacks Investment Research raised shares of BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, May 2nd. Sidoti reissued a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of BioTelemetry in a report on Thursday, August 10th. Dougherty & Co raised their target price on shares of BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Benchmark Co. raised their target price on shares of BioTelemetry from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. BioTelemetry currently has a consensus rating of “Buy” and a consensus target price of $44.40.
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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