BioTelemetry Inc. (NASDAQ:BEAT) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $21.42 and last traded at $21.22, with a volume of 109,548 shares. The stock had previously closed at $21.06.

BEAT has been the topic of several research reports. Benchmark Co. raised their price objective on BioTelemetry from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, August 4th.

The company has a market cap of $594.13 million and a price-to-earnings ratio of 45.11. The stock’s 50-day moving average price is $18.66 and its 200 day moving average price is $14.70.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $52.68 million for the quarter, compared to the consensus estimate of $50.27 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts anticipate that BioTelemetry Inc. will post $0.76 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have made changes to their positions in the stock. 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. Wells Fargo & Company MN increased its position 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 in the last quarter. Finally, Argent Capital Management LLC increased its position in BioTelemetry by 84.0% in the fourth quarter. Argent Capital Management LLC now owns 293,172 shares of the company’s stock worth $3,424,000 after buying an additional 133,847 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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