Wells Fargo & Company MN trimmed its position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 379,072 shares of the medical research company’s stock after selling 49,652 shares during the period. Wells Fargo & Company MN’s holdings in BioTelemetry were worth $11,333,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP boosted its stake in BioTelemetry by 577.1% during the 3rd quarter. Quantbot Technologies LP now owns 9,087 shares of the medical research company’s stock valued at $299,000 after purchasing an additional 7,745 shares during the period. Comerica Bank raised its position in shares of BioTelemetry by 3.2% during the 4th quarter. Comerica Bank now owns 51,106 shares of the medical research company’s stock worth $1,778,000 after buying an additional 1,591 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of BioTelemetry by 81.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,239 shares of the medical research company’s stock worth $503,000 after buying an additional 6,838 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of BioTelemetry during the 3rd quarter worth about $337,000. Finally, Legal & General Group Plc raised its position in shares of BioTelemetry by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 55,503 shares of the medical research company’s stock worth $1,831,000 after buying an additional 3,385 shares in the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.
BioTelemetry stock traded down $0.20 during mid-day trading on Monday, hitting $33.25. 45,804 shares of the company’s stock were exchanged, compared to its average volume of 436,032. BioTelemetry, Inc. has a one year low of $23.30 and a one year high of $39.20. The company has a market cap of $1,088.17, a P/E ratio of -68.26, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.77 and a quick ratio of 1.66.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Thursday, February 22nd. The medical research company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. BioTelemetry had a negative net margin of 5.56% and a positive return on equity of 14.54%. The company had revenue of $91.70 million for the quarter, compared to the consensus estimate of $88.33 million. During the same period in the previous year, the firm earned $0.23 EPS. BioTelemetry’s revenue was up 69.8% on a year-over-year basis. sell-side analysts anticipate that BioTelemetry, Inc. will post 1.28 EPS for the current year.
In related news, insider Fred Broadway sold 54,158 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $34.17, for a total value of $1,850,578.86. Following the sale, the insider now directly owns 64,880 shares in the company, valued at approximately $2,216,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by insiders.
A number of analysts have commented on BEAT shares. BidaskClub upgraded shares of BioTelemetry from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 19th. Zacks Investment Research downgraded shares of BioTelemetry from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Dougherty & Co restated a “buy” rating and set a $41.00 price target (up from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.00.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/19/wells-fargo-company-mn-has-11-33-million-holdings-in-biotelemetry-inc-beat.html.
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.
Want to see what other hedge funds are holding BEAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioTelemetry, Inc. (NASDAQ:BEAT).
Receive News & Ratings for BioTelemetry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioTelemetry and related companies with MarketBeat.com's FREE daily email newsletter.