Riverhead Capital Management LLC Raises Stake in BioTelemetry Inc (NASDAQ:BEAT)

Riverhead Capital Management LLC raised its stake in BioTelemetry Inc (NASDAQ:BEAT) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,637 shares of the medical research company’s stock after buying an additional 700 shares during the quarter. Riverhead Capital Management LLC’s holdings in BioTelemetry were worth $271,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BEAT. Citizens Financial Group Inc RI acquired a new position in shares of BioTelemetry in the 1st quarter valued at $38,000. Arcadia Investment Management Corp MI acquired a new position in BioTelemetry during the 2nd quarter worth about $29,000. Capital Investment Advisory Services LLC acquired a new position in BioTelemetry during the 2nd quarter worth about $45,000. Quantamental Technologies LLC acquired a new position in BioTelemetry during the 2nd quarter worth about $52,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in BioTelemetry by 25.0% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 1,500 shares of the medical research company’s stock worth $94,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

In other news, SVP Peter Ferola sold 44,276 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $39.03, for a total value of $1,728,092.28. Following the transaction, the senior vice president now owns 19,622 shares in the company, valued at approximately $765,846.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.50% of the company’s stock.

BEAT has been the topic of several research reports. TheStreet lowered BioTelemetry from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. Sidoti decreased their target price on BioTelemetry from $95.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Zacks Investment Research lowered BioTelemetry from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Lake Street Capital set a $90.00 target price on BioTelemetry and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, ValuEngine lowered BioTelemetry from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.50.

BEAT stock traded up $0.15 during mid-day trading on Friday, reaching $42.22. The company had a trading volume of 6,917 shares, compared to its average volume of 270,381. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.09 and a current ratio of 2.19. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. The firm has a fifty day simple moving average of $41.62 and a 200 day simple moving average of $51.94. BioTelemetry Inc has a fifty-two week low of $38.45 and a fifty-two week high of $80.92.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.08. BioTelemetry had a return on equity of 22.98% and a net margin of 11.06%. The company had revenue of $111.80 million for the quarter, compared to analyst estimates of $111.11 million. During the same quarter last year, the company earned $0.46 EPS. BioTelemetry’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts predict that BioTelemetry Inc will post 1.98 earnings per share for the current year.

BioTelemetry 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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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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