Short Interest in BioTelemetry, Inc. (BEAT) Increases By 32.8%

BioTelemetry, Inc. (NASDAQ:BEAT) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,922,685 shares, an increase of 32.8% from the November 15th total of 1,447,612 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily trading volume, of 516,370 shares, the short-interest ratio is currently 3.7 days.

Several equities research analysts recently weighed in on BEAT shares. Dougherty & Co reaffirmed a “buy” rating and set a $40.00 target price on shares of BioTelemetry in a research note on Wednesday, November 8th. SunTrust Banks started coverage on shares of BioTelemetry in a research note on Monday, October 23rd. They set a “buy” rating and a $41.00 target price on the stock. Raymond James Financial started coverage on shares of BioTelemetry in a research note on Thursday, October 26th. They set an “outperform” rating and a $37.00 target price on the stock. Off Wall Street started coverage on shares of BioTelemetry in a research note on Friday, September 15th. They set a “sell” rating on the stock. Finally, Zacks Investment Research downgraded shares of BioTelemetry from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.86.

BioTelemetry (BEAT) opened at $29.05 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.48 and a debt-to-equity ratio of 0.75. BioTelemetry has a twelve month low of $20.65 and a twelve month high of $39.20. The company has a market cap of $917.15, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.53.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, November 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.09). BioTelemetry had a return on equity of 13.66% and a net margin of 16.10%. The firm had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.10 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was up 52.7% on a year-over-year basis. equities analysts forecast that BioTelemetry will post 0.83 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. acquired a new position in BioTelemetry during the 3rd quarter worth approximately $109,000. Pinebridge Investments L.P. grew its holdings in BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares in the last quarter. Victory Capital Management Inc. grew its holdings in BioTelemetry by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock worth $140,000 after acquiring an additional 626 shares in the last quarter. US Bancorp DE acquired a new position in BioTelemetry during the 2nd quarter worth approximately $145,000. Finally, Sei Investments Co. grew its holdings in BioTelemetry by 242.8% during the 2nd quarter. Sei Investments Co. now owns 5,783 shares of the medical research company’s stock worth $193,000 after acquiring an additional 4,096 shares in the last quarter. Institutional investors own 82.40% of the company’s stock.

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About BioTelemetry

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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