BioTelemetry Inc. (BEAT) Sees Large Volume Increase
Shares of BioTelemetry Inc. (NASDAQ:BEAT) saw unusually-strong trading volume on Friday . Approximately 6,437,786 shares traded hands during mid-day trading, an increase of 640% from the previous session’s volume of 869,524 shares.The stock last traded at $19.02 and had previously closed at $19.08.
Separately, Zacks Investment Research cut shares of BioTelemetry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th.
The stock has a 50 day moving average price of $16.89 and a 200 day moving average price of $13.75. The firm has a market capitalization of $530.54 million and a PE ratio of 48.15.
Other institutional investors have made changes to their positions in the company. Russell Frank Co boosted 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. Gabelli Funds LLC purchased a new position in shares of BioTelemetry during the fourth quarter worth $1,190,000. Wells Fargo & Company MN boosted 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 in the last quarter. Royce & Associates LLC boosted its position in shares of 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 in the last quarter. Finally, 1492 Capital Management LLC boosted 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 in 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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