Traders Buy BioTelemetry Inc. (BEAT) on Weakness
Traders purchased shares of BioTelemetry Inc. (NASDAQ:BEAT) on weakness during trading on Friday. $47.78 million flowed into the stock on the tick-up and $2.80 million flowed out of the stock on the tick-down, for a money net flow of $44.98 million into the stock. Of all stocks tracked, BioTelemetry had the 27th highest net in-flow for the day. BioTelemetry traded down ($0.06) for the day and closed at $19.02
Separately, Zacks Investment Research lowered BioTelemetry from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th.
The company has a 50-day moving average of $16.89 and a 200-day moving average of $13.75. The stock has a market cap of $530.54 million and a P/E ratio of 48.15.
BioTelemetry (NASDAQ:BEAT) last posted its earnings results on Tuesday, April 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company earned $48.60 million during the quarter, compared to analyst estimates of $46.54 million. BioTelemetry’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. On average, equities research analysts expect that BioTelemetry Inc. will post $0.71 EPS for the current year.
Several large investors recently bought and sold shares of the stock. Russell Frank Co raised 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 period. Gabelli Funds LLC bought a new stake in BioTelemetry during the fourth quarter worth about $1,190,000. Wells Fargo & Company MN raised its stake in 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 period. Royce & Associates LLC raised 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 period. Finally, 1492 Capital Management LLC raised 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 period.
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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