Robeco Institutional Asset Management B.V. decreased its holdings in shares of BioTelemetry Inc (NASDAQ:BEAT) by 76.5% in the 2nd quarter, Holdings Channel reports. The firm owned 7,604 shares of the medical research company’s stock after selling 24,723 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in BioTelemetry were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. National Asset Management Inc. bought a new stake in BioTelemetry during the first quarter valued at $218,000. Brinker Capital Inc. bought a new stake in BioTelemetry during the first quarter valued at $617,000. WCM Investment Management LLC bought a new stake in BioTelemetry during the first quarter valued at $2,056,000. Piedmont Investment Advisors Inc. increased its stake in BioTelemetry by 7.6% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,517 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 598 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in BioTelemetry by 119.7% during the fourth quarter. Deutsche Bank AG now owns 310,751 shares of the medical research company’s stock valued at $18,556,000 after purchasing an additional 169,306 shares during the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.
Several equities analysts have recently commented on BEAT shares. Raymond James lowered shares of BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Lake Street Capital set a $90.00 price target on shares of BioTelemetry and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Dougherty & Co restated a “buy” rating and set a $75.00 price target (down previously from $81.00) on shares of BioTelemetry in a research report on Friday, April 26th. Sidoti lowered their price target on shares of BioTelemetry from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, ValuEngine lowered shares of BioTelemetry from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $72.57.
BioTelemetry (NASDAQ:BEAT) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.45 by $0.08. The business had revenue of $111.80 million during the quarter, compared to analyst estimates of $111.11 million. BioTelemetry had a net margin of 11.06% and a return on equity of 22.98%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, research analysts expect that BioTelemetry Inc will post 1.96 earnings per share for the current year.
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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