First Trust Advisors LP Has $2.79 Million Stake in BioTelemetry Inc (BEAT)
First Trust Advisors LP lifted its holdings in shares of BioTelemetry Inc (NASDAQ:BEAT) by 224.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,022 shares of the medical research company’s stock after acquiring an additional 42,901 shares during the quarter. First Trust Advisors LP owned 0.19% of BioTelemetry worth $2,791,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in BEAT. Russell Investments Group Ltd. increased its position in shares of BioTelemetry by 67.1% during the first quarter. Russell Investments Group Ltd. now owns 800,351 shares of the medical research company’s stock worth $24,851,000 after acquiring an additional 321,284 shares during the last quarter. Ancora Advisors LLC bought a new stake in BioTelemetry in the first quarter valued at about $7,909,000. Harvest Capital Strategies LLC bought a new stake in BioTelemetry in the first quarter valued at about $7,139,000. BlackRock Inc. increased its holdings in BioTelemetry by 4.0% in the first quarter. BlackRock Inc. now owns 4,257,982 shares of the medical research company’s stock valued at $132,212,000 after buying an additional 164,145 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in BioTelemetry in the first quarter valued at about $4,722,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of BEAT stock opened at $60.15 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.29 and a quick ratio of 2.12. BioTelemetry Inc has a 52 week low of $23.30 and a 52 week high of $62.55. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 61.80, a P/E/G ratio of 3.95 and a beta of 1.46.
In other BioTelemetry news, CEO Joseph H. Capper sold 54,921 shares of BioTelemetry stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $43.45, for a total value of $2,386,317.45. Following the completion of the transaction, the chief executive officer now directly owns 233,276 shares in the company, valued at $10,135,842.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Daniel Wisniewski sold 31,000 shares of BioTelemetry stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $60.45, for a total value of $1,873,950.00. Following the completion of the transaction, the senior vice president now owns 57,291 shares of the company’s stock, valued at $3,463,240.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 600,921 shares of company stock valued at $29,929,992. 9.60% of the stock is currently owned by insiders.
Several brokerages recently weighed in on BEAT. TheStreet raised BioTelemetry from a “c” rating to a “b-” rating in a report on Tuesday, May 29th. SunTrust Banks boosted their price objective on BioTelemetry to $67.00 and gave the company a “buy” rating in a report on Friday, August 31st. Zacks Investment Research raised BioTelemetry from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, June 26th. Lake Street Capital boosted their price objective on BioTelemetry from $50.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, Benchmark boosted their price objective on BioTelemetry from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, June 20th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $56.67.
BioTelemetry Company Profile
BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.
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