BioTelemetry Inc. (BEAT) Shares Up 2.7%
BioTelemetry Inc. (NASDAQ:BEAT) shot up 2.7% during mid-day trading on Wednesday . The company traded as high as $19.23 and last traded at $19.20, with a volume of 354,376 shares changing hands. The stock had previously closed at $18.69.
Separately, Zacks Investment Research lowered shares of BioTelemetry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.
The firm’s 50 day moving average price is $16.76 and its 200 day moving average price is $13.65. The firm has a market capitalization of $531.66 million and a price-to-earnings ratio of 48.25.
BioTelemetry (NASDAQ:BEAT) last issued its earnings results on Tuesday, April 26th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.10. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The firm had revenue of $48.60 million for the quarter, compared to analyst estimates of $46.54 million. BioTelemetry’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts expect that BioTelemetry Inc. will post $0.71 earnings per share for the current year.
Other institutional investors have recently modified their holdings of the company. 1492 Capital Management LLC increased its position in shares of 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. Russell Frank Co increased its position in shares of 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. Dimensional Fund Advisors LP increased its position in shares of BioTelemetry by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,317,266 shares of the company’s stock worth $15,386,000 after buying an additional 98,737 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of BioTelemetry during the fourth quarter worth $1,190,000. Finally, Wells Fargo & Company MN increased its position in shares of BioTelemetry by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 994,163 shares of the company’s stock worth $11,612,000 after buying an additional 119,328 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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