United Services Automobile Association raised its stake in BioTelemetry Inc (NASDAQ:BEAT) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,267 shares of the medical research company’s stock after acquiring an additional 590 shares during the quarter. United Services Automobile Association’s holdings in BioTelemetry were worth $398,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in BioTelemetry in the second quarter valued at $29,000. NumerixS Investment Technologies Inc acquired a new position in BioTelemetry in the second quarter valued at $29,000. Capital Investment Advisory Services LLC acquired a new position in BioTelemetry in the second quarter valued at $45,000. Tower Research Capital LLC TRC acquired a new position in BioTelemetry in the second quarter valued at $50,000. Finally, Quantamental Technologies LLC acquired a new position in BioTelemetry in the second quarter valued at $52,000. 90.67% of the stock is owned by institutional investors.
Shares of NASDAQ BEAT traded down $0.07 on Monday, hitting $38.77. The company had a trading volume of 51,835 shares, compared to its average volume of 245,246. BioTelemetry Inc has a 12-month low of $37.07 and a 12-month high of $80.92. The business has a 50 day moving average of $40.36 and a two-hundred day moving average of $47.89. The company has a quick ratio of 2.09, a current ratio of 2.19 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.32 billion, a P/E ratio of 19.98, a PEG ratio of 1.90 and a beta of 1.37.
In related news, SVP Peter Ferola sold 44,276 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 19,622 shares in the company, valued at $765,846.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.50% of the company’s stock.
Several equities analysts recently commented on the company. Lake Street Capital set a $90.00 target price on BioTelemetry and gave the company a “buy” rating in a research note on Wednesday, July 31st. Sidoti lowered their price target on BioTelemetry from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Zacks Investment Research downgraded BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. ValuEngine raised BioTelemetry from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Raymond James downgraded BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. BioTelemetry has a consensus rating of “Buy” and a consensus target price of $73.50.
BioTelemetry Company Profile
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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