BioTelemetry Inc (NASDAQ:BEAT) Stock Position Lessened by Victory Capital Management Inc.

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Victory Capital Management Inc. lowered its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 63.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 959 shares of the medical research company’s stock after selling 1,671 shares during the period. Victory Capital Management Inc.’s holdings in BioTelemetry were worth $46,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BEAT. Amundi Pioneer Asset Management Inc. boosted its stake in BioTelemetry by 34.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 45,700 shares of the medical research company’s stock valued at $2,862,000 after buying an additional 11,700 shares in the last quarter. Cortina Asset Management LLC boosted its stake in BioTelemetry by 21.3% during the second quarter. Cortina Asset Management LLC now owns 143,816 shares of the medical research company’s stock valued at $6,925,000 after buying an additional 25,280 shares in the last quarter. New England Research & Management Inc. bought a new position in BioTelemetry during the second quarter valued at about $549,000. Scout Investments Inc. boosted its stake in BioTelemetry by 65.1% during the second quarter. Scout Investments Inc. now owns 208,760 shares of the medical research company’s stock valued at $10,052,000 after buying an additional 82,281 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in BioTelemetry during the second quarter valued at about $307,000. 90.65% of the stock is owned by institutional investors and hedge funds.

NASDAQ:BEAT opened at $38.84 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.19 and a debt-to-equity ratio of 0.54. BioTelemetry Inc has a 1-year low of $37.07 and a 1-year high of $80.92. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. The stock has a fifty day simple moving average of $40.36 and a 200 day simple moving average of $47.89.

BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.08. BioTelemetry had a return on equity of 22.98% and a net margin of 11.06%. The business had revenue of $111.80 million during the quarter, compared to analyst estimates of $111.11 million. During the same quarter last year, the company posted $0.46 EPS. BioTelemetry’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts predict that BioTelemetry Inc will post 1.97 earnings per share for the current year.

In related news, SVP Peter Ferola sold 44,276 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $39.03, for a total value of $1,728,092.28. Following the completion of the transaction, the senior vice president now owns 19,622 shares in the company, valued at approximately $765,846.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.50% of the company’s stock.

Several research analysts recently weighed in on the company. BidaskClub cut BioTelemetry from a “sell” rating to a “strong sell” rating in a research note on Friday. Sidoti decreased their target price on BioTelemetry from $95.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Raymond James cut BioTelemetry from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Zacks Investment Research cut BioTelemetry from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, ValuEngine upgraded BioTelemetry from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $73.50.

About BioTelemetry

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in Healthcare, Research, and Corporate and Other segments.

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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