Short Interest in BioTelemetry, Inc. (BEAT) Rises By 32.8%

BioTelemetry, Inc. (NASDAQ:BEAT) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 1,922,685 shares, a growth of 32.8% from the November 15th total of 1,447,612 shares. Based on an average daily volume of 516,370 shares, the short-interest ratio is currently 3.7 days. Currently, 6.1% of the shares of the company are sold short.

Shares of BioTelemetry (BEAT) traded up $1.10 during midday trading on Thursday, reaching $31.60. 477,408 shares of the company’s stock traded hands, compared to its average volume of 454,939. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.48 and a current ratio of 1.60. BioTelemetry has a twelve month low of $21.05 and a twelve month high of $39.20. The firm has a market cap of $988.45, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, November 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.09). BioTelemetry had a net margin of 16.10% and a return on equity of 13.66%. The business had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.10 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The business’s revenue was up 52.7% on a year-over-year basis. sell-side analysts forecast that BioTelemetry will post 0.83 earnings per share for the current fiscal year.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of BioTelemetry from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Dougherty & Co reiterated a “buy” rating and issued a $40.00 target price on shares of BioTelemetry in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of BioTelemetry from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Raymond James Financial assumed coverage on shares of BioTelemetry in a research note on Thursday, October 26th. They issued an “outperform” rating and a $37.00 target price for the company. Finally, SunTrust Banks assumed coverage on shares of BioTelemetry in a research note on Monday, October 23rd. They issued a “buy” rating and a $41.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. BioTelemetry currently has an average rating of “Hold” and a consensus price target of $42.86.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Winslow Evans & Crocker Inc. acquired a new stake in BioTelemetry during the 3rd quarter valued at approximately $109,000. Pinebridge Investments L.P. lifted its stake in BioTelemetry by 2.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 75 shares during the period. Victory Capital Management Inc. lifted its stake in BioTelemetry by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 626 shares during the period. US Bancorp DE acquired a new stake in BioTelemetry during the 2nd quarter valued at approximately $145,000. Finally, Sei Investments Co. lifted its stake in shares of BioTelemetry by 242.8% in the 2nd quarter. Sei Investments Co. now owns 5,783 shares of the medical research company’s stock valued at $193,000 after purchasing an additional 4,096 shares during the period. Institutional investors and hedge funds own 82.34% of the company’s stock.

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About BioTelemetry

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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