IFP Advisors Inc grew its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 163.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,927 shares of the medical research company’s stock after buying an additional 1,814 shares during the quarter. IFP Advisors Inc’s holdings in BioTelemetry were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its stake in shares of BioTelemetry by 112.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,650 shares of the medical research company’s stock worth $119,000 after purchasing an additional 1,400 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of BioTelemetry in the 2nd quarter worth $205,000. Xact Kapitalforvaltning AB purchased a new stake in shares of BioTelemetry in the 1st quarter worth $211,000. Amalgamated Bank purchased a new stake in shares of BioTelemetry in the 2nd quarter worth $238,000. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of BioTelemetry by 2,113.0% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 4,426 shares of the medical research company’s stock worth $286,000 after purchasing an additional 4,226 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BEAT stock opened at $68.15 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 39.85, a price-to-earnings-growth ratio of 3.93 and a beta of 1.58. The company has a quick ratio of 2.50, a current ratio of 2.68 and a debt-to-equity ratio of 0.66. BioTelemetry Inc has a 52-week low of $23.30 and a 52-week high of $70.00.
In related news, insider Fred Broadway sold 90,113 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $65.00, for a total value of $5,857,345.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirk E. Gorman sold 625 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $62.30, for a total transaction of $38,937.50. Following the completion of the transaction, the director now directly owns 173,940 shares of the company’s stock, valued at approximately $10,836,462. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,852 shares of company stock valued at $12,869,047. Company insiders own 9.60% of the company’s stock.
BEAT has been the subject of several analyst reports. BidaskClub lowered BioTelemetry from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. SunTrust Banks upped their price objective on BioTelemetry to $67.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Raymond James reduced their price objective on BioTelemetry from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Finally, Lake Street Capital upped their price objective on BioTelemetry from $50.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Eight equities research analysts have rated the stock with a buy rating, BioTelemetry currently has an average rating of “Buy” and a consensus target price of $61.17.
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BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.
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