Principal Financial Group Inc. raised its stake in BioTelemetry, Inc. (NASDAQ:BEAT) by 4.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 231,087 shares of the medical research company’s stock after buying an additional 8,926 shares during the period. Principal Financial Group Inc. owned approximately 0.81% of BioTelemetry worth $6,690,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of BEAT. Russell Investments Group Ltd. boosted its stake in BioTelemetry by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 450,895 shares of the medical research company’s stock worth $13,054,000 after buying an additional 65,030 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in BioTelemetry during the first quarter worth approximately $1,812,000. Summit Creek Advisors LLC boosted its stake in BioTelemetry by 17.8% in the first quarter. Summit Creek Advisors LLC now owns 272,566 shares of the medical research company’s stock worth $7,891,000 after buying an additional 41,184 shares during the period. Penserra Capital Management LLC bought a new stake in BioTelemetry during the first quarter worth approximately $1,158,000. Finally, Guggenheim Capital LLC boosted its stake in BioTelemetry by 25.5% in the fourth quarter. Guggenheim Capital LLC now owns 135,774 shares of the medical research company’s stock worth $3,035,000 after buying an additional 27,549 shares during the period. Institutional investors own 83.91% of the company’s stock.
Shares of BioTelemetry, Inc. (BEAT) traded up 0.28% during midday trading on Tuesday, reaching $35.25. 663,751 shares of the company traded hands. BioTelemetry, Inc. has a 1-year low of $15.25 and a 1-year high of $36.50. The stock has a market capitalization of $1.01 billion, a P/E ratio of 22.02 and a beta of 0.76. The stock’s 50-day moving average is $32.83 and its 200-day moving average is $28.76.
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A number of analysts recently commented on the stock. BidaskClub cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Lake Street Capital reissued a “buy” rating and set a $50.00 price target (up from $35.00) on shares of BioTelemetry in a research report on Friday, July 14th. Dougherty & Co raised their price target on shares of BioTelemetry from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Benchmark Co. assumed coverage on shares of BioTelemetry in a report on Thursday, June 29th. They set a “buy” rating and a $38.00 target price for the company. Finally, Zacks Investment Research lowered shares of BioTelemetry from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. BioTelemetry has an average rating of “Buy” and an average price target of $39.20.
In related news, Director Robert J. Rubin sold 15,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.14, for a total transaction of $422,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.60% of the stock is owned by corporate insiders.
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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