Hood River Capital Management LLC acquired a new position in BioTelemetry, Inc. (NASDAQ:BEAT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 798,018 shares of the medical research company’s stock, valued at approximately $26,694,000. BioTelemetry accounts for about 1.8% of Hood River Capital Management LLC’s portfolio, making the stock its 12th largest holding. Hood River Capital Management LLC owned about 2.78% of BioTelemetry at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BEAT. Pinebridge Investments L.P. raised its position in shares of BioTelemetry by 2.0% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock worth $126,000 after acquiring an additional 75 shares during the period. Victory Capital Management Inc. raised its position in shares of BioTelemetry by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock worth $140,000 after acquiring an additional 626 shares during the period. FNY Partners Fund LP acquired a new position in shares of BioTelemetry in the first quarter worth about $142,000. Dubuque Bank & Trust Co. acquired a new position in shares of BioTelemetry in the second quarter worth about $142,000. Finally, US Bancorp DE acquired a new position in shares of BioTelemetry in the second quarter worth about $145,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

A number of research analysts have weighed in on BEAT shares. Off Wall Street started coverage on shares of BioTelemetry in a research report on Friday, September 15th. They issued a “sell” rating for the company. Benchmark Co. upped their price objective on shares of BioTelemetry from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. BidaskClub downgraded shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective (up previously from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.40.

Shares of BioTelemetry, Inc. (NASDAQ:BEAT) traded up 1.11% on Friday, hitting $32.00. 747,008 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $35.68 and its 200 day moving average price is $31.50. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 21.48 and a beta of 0.73. BioTelemetry, Inc. has a 12-month low of $15.25 and a 12-month high of $39.20.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. BioTelemetry had a net margin of 21.03% and a return on equity of 18.75%. The firm had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.39 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts predict that BioTelemetry, Inc. will post $0.99 earnings per share for the current fiscal year.

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BioTelemetry Profile

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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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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