Teachers Retirement System of The State of Kentucky Sells 4,700 Shares of BioTelemetry, Inc. (BEAT)
Teachers Retirement System of The State of Kentucky decreased its position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 32.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,800 shares of the medical research company’s stock after selling 4,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in BioTelemetry were worth $284,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. FNY Partners Fund LP bought a new stake in shares of BioTelemetry during the first quarter worth about $142,000. Mason Street Advisors LLC increased its stake in shares of BioTelemetry by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,634 shares of the medical research company’s stock worth $192,000 after buying an additional 465 shares during the period. LS Investment Advisors LLC increased its stake in shares of BioTelemetry by 525.8% in the first quarter. LS Investment Advisors LLC now owns 7,385 shares of the medical research company’s stock worth $214,000 after buying an additional 6,205 shares during the period. Pitcairn Co. bought a new stake in shares of BioTelemetry during the first quarter worth about $215,000. Finally, Koch Industries Inc. bought a new stake in shares of BioTelemetry during the first quarter worth about $250,000. Institutional investors and hedge funds own 83.91% of the company’s stock.
Shares of BioTelemetry, Inc. (NASDAQ:BEAT) traded up 1.97% during midday trading on Thursday, hitting $33.70. The stock had a trading volume of 153,715 shares. The firm has a market cap of $968.67 million, a price-to-earnings ratio of 22.51 and a beta of 0.76. BioTelemetry, Inc. has a 52-week low of $15.25 and a 52-week high of $36.50. The firm’s 50 day moving average price is $33.27 and its 200 day moving average price is $29.08.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. BioTelemetry had a return on equity of 19.53% and a net margin of 21.03%. The firm had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.39 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that BioTelemetry, Inc. will post $0.92 earnings per share for the current year.
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A number of brokerages have issued reports on BEAT. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, May 2nd. Sidoti restated a “buy” rating and set a $49.00 price objective (up from $42.00) on shares of BioTelemetry in a research report on Thursday. BidaskClub downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Lake Street Capital restated a “buy” rating and set a $50.00 price objective (up from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. Finally, Dougherty & Co upped their price objective on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.20.
In related news, Director Robert J. Rubin sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.14, for a total value of $422,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.60% of the company’s stock.
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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