Gabelli Funds LLC purchased a new position in BioTelemetry, Inc. (NASDAQ:BEAT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 98,000 shares of the medical research company’s stock, valued at approximately $2,930,000. Gabelli Funds LLC owned about 0.30% of BioTelemetry at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of BEAT. Rice Hall James & Associates LLC purchased a new position in shares of BioTelemetry in the 4th quarter worth about $12,319,000. Bank of New York Mellon Corp increased its holdings in BioTelemetry by 39.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,701 shares of the medical research company’s stock worth $47,379,000 after buying an additional 404,107 shares in the last quarter. Pembroke Management LTD increased its holdings in BioTelemetry by 63.9% in the 3rd quarter. Pembroke Management LTD now owns 449,300 shares of the medical research company’s stock worth $14,827,000 after buying an additional 175,200 shares in the last quarter. Thomson Horstmann & Bryant Inc. bought a new stake in BioTelemetry in the 4th quarter worth about $4,112,000. Finally, Hood River Capital Management LLC increased its holdings in BioTelemetry by 13.8% in the 3rd quarter. Hood River Capital Management LLC now owns 907,939 shares of the medical research company’s stock worth $29,962,000 after buying an additional 109,921 shares in the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.
BEAT has been the subject of several research analyst reports. Zacks Investment Research downgraded BioTelemetry from a “hold” rating to a “strong sell” rating in a report on Thursday, November 2nd. Dougherty & Co reiterated a “buy” rating and issued a $40.00 price objective on shares of BioTelemetry in a report on Wednesday, November 8th. BidaskClub upgraded BioTelemetry from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Raymond James Financial initiated coverage on BioTelemetry in a report on Thursday, October 26th. They issued an “outperform” rating and a $37.00 price objective for the company. Finally, SunTrust Banks initiated coverage on BioTelemetry in a report on Monday, October 23rd. They issued a “buy” rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. BioTelemetry presently has a consensus rating of “Hold” and an average target price of $42.86.
Shares of BioTelemetry, Inc. (BEAT) opened at $32.55 on Tuesday. The company has a market capitalization of $1,025.72, a PE ratio of 25.23, a P/E/G ratio of 1.41 and a beta of 0.67. BioTelemetry, Inc. has a twelve month low of $23.30 and a twelve month high of $39.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.48.
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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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