BioTelemetry Inc. (BEAT) Sees Unusually-High Trading Volume
BioTelemetry Inc. (NASDAQ:BEAT) shares saw an uptick in trading volume on Monday . 357,497 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 286,800 shares.The stock last traded at $17.18 and had previously closed at $16.54.
Separately, Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Thursday, April 28th.
The firm has a market cap of $488.14 million and a P/E ratio of 44.30. The firm’s 50 day moving average price is $16.38 and its 200-day moving average price is $13.11.
BioTelemetry (NASDAQ:BEAT) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.10. The business earned $48.60 million during the quarter, compared to analyst estimates of $46.54 million. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities analysts predict that BioTelemetry Inc. will post $0.71 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC purchased a new stake in BioTelemetry during the fourth quarter worth approximately $1,190,000. Teton Advisors Inc. increased its stake in BioTelemetry by 26.3% in the fourth quarter. Teton Advisors Inc. now owns 135,100 shares of the company’s stock worth $1,578,000 after buying an additional 28,100 shares during the last quarter. Russell Frank Co increased its stake in BioTelemetry by 58.9% in the fourth quarter. Russell Frank Co now owns 249,457 shares of the company’s stock worth $2,933,000 after buying an additional 92,455 shares during the last quarter. 1492 Capital Management LLC increased its stake in BioTelemetry by 11.4% in the fourth quarter. 1492 Capital Management LLC now owns 321,761 shares of the company’s stock worth $3,758,000 after buying an additional 32,932 shares during the last quarter. Finally, Royce & Associates LLC increased its stake in BioTelemetry by 102.2% in the fourth quarter. Royce & Associates LLC now owns 606,700 shares of the company’s stock worth $7,086,000 after buying an additional 306,700 shares during the last quarter.
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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