Concorde Asset Management LLC raised its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 154.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,014 shares of the medical research company’s stock after buying an additional 15,180 shares during the period. BioTelemetry comprises about 1.1% of Concorde Asset Management LLC’s portfolio, making the stock its 17th largest position. Concorde Asset Management LLC owned 0.09% of BioTelemetry worth $837,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in BioTelemetry by 69,017.8% in the first quarter. BlackRock Inc. now owns 3,509,112 shares of the medical research company’s stock valued at $101,587,000 after buying an additional 3,504,035 shares in the last quarter. Wellington Management Group LLP raised its position in BioTelemetry by 28.7% in the first quarter. Wellington Management Group LLP now owns 1,009,507 shares of the medical research company’s stock valued at $29,225,000 after buying an additional 225,407 shares in the last quarter. Vanguard Group Inc. raised its position in BioTelemetry by 11.7% in the first quarter. Vanguard Group Inc. now owns 1,674,580 shares of the medical research company’s stock valued at $48,480,000 after buying an additional 174,844 shares in the last quarter. Renaissance Technologies LLC raised its position in BioTelemetry by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,247,045 shares of the medical research company’s stock valued at $36,102,000 after buying an additional 147,745 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position in BioTelemetry by 53.5% in the first quarter. Driehaus Capital Management LLC now owns 244,866 shares of the medical research company’s stock valued at $7,089,000 after buying an additional 85,386 shares in the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.
Shares of BioTelemetry, Inc. (NASDAQ BEAT) traded up 2.22% during trading on Friday, reaching $34.50. 404,643 shares of the company were exchanged. BioTelemetry, Inc. has a 52-week low of $15.25 and a 52-week high of $36.50. The stock has a market capitalization of $1.12 billion, a P/E ratio of 23.15 and a beta of 0.76. The stock has a 50-day moving average of $33.52 and a 200 day moving average of $29.20.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, August 8th. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $58.10 million during the quarter, compared to analyst estimates of $58.39 million. BioTelemetry had a return on equity of 18.75% and a net margin of 21.03%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. On average, equities analysts anticipate that BioTelemetry, Inc. will post $0.99 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on the stock. Sidoti restated a “buy” rating and set a $49.00 price target (up previously from $42.00) on shares of BioTelemetry in a research report on Thursday. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research report on Friday. Dougherty & Co upped their price target on shares of BioTelemetry from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $50.00 target price (up previously from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $44.40.
In other news, Director Robert J. Rubin sold 15,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $28.14, for a total transaction of $422,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by insiders.
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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