Bank of New York Mellon Corp lifted its stake in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,435,701 shares of the medical research company’s stock after acquiring an additional 404,107 shares during the quarter. Bank of New York Mellon Corp owned about 4.44% of BioTelemetry worth $47,379,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of BioTelemetry by 5.2% during the 3rd quarter. Rhumbline Advisers now owns 56,903 shares of the medical research company’s stock worth $1,878,000 after acquiring an additional 2,815 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of BioTelemetry by 18.8% during the 3rd quarter. Advisor Group Inc. now owns 23,751 shares of the medical research company’s stock worth $784,000 after acquiring an additional 3,754 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in BioTelemetry during the 3rd quarter valued at approximately $232,000. Municipal Employees Retirement System of Michigan boosted its stake in BioTelemetry by 72.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,570 shares of the medical research company’s stock valued at $382,000 after purchasing an additional 4,870 shares during the period. Finally, Intrust Bank NA boosted its stake in BioTelemetry by 39.4% during the 3rd quarter. Intrust Bank NA now owns 10,416 shares of the medical research company’s stock valued at $344,000 after purchasing an additional 2,944 shares during the period. Institutional investors own 82.23% of the company’s stock.
Shares of BioTelemetry, Inc. (BEAT) opened at $26.85 on Tuesday. BioTelemetry, Inc. has a 52 week low of $19.95 and a 52 week high of $39.20. The firm has a market capitalization of $896.08, a P/E ratio of 37.88, a P/E/G ratio of 1.73 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.48 and a current ratio of 1.60.
Several analysts recently weighed in on BEAT shares. Dougherty & Co increased their target price on BioTelemetry from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Sidoti restated a “buy” rating and set a $49.00 target price (up previously from $42.00) on shares of BioTelemetry in a research note on Thursday, August 10th. Zacks Investment Research upgraded BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Friday, August 11th. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Finally, Off Wall Street started coverage on BioTelemetry in a research note on Friday, September 15th. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $42.86.
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BioTelemetry Company 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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