Bank of New York Mellon Corp trimmed its position in shares of BioTelemetry, Inc. (NASDAQ:BEAT) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,288,060 shares of the medical research company’s stock after selling 147,641 shares during the quarter. Bank of New York Mellon Corp’s holdings in BioTelemetry were worth $38,512,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Dallas Securities Inc. bought a new stake in shares of BioTelemetry during the fourth quarter worth $133,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of BioTelemetry during the second quarter worth $212,000. FNY Partners Fund LP lifted its position in shares of BioTelemetry by 74.1% during the third quarter. FNY Partners Fund LP now owns 7,000 shares of the medical research company’s stock worth $231,000 after purchasing an additional 2,980 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of BioTelemetry during the third quarter worth $232,000. Finally, Premier Asset Management LLC bought a new stake in shares of BioTelemetry during the third quarter worth $237,000. 87.49% of the stock is owned by institutional investors.
Shares of BioTelemetry, Inc. (NASDAQ BEAT) opened at $35.90 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1,110.00, a PE ratio of -67.74, a P/E/G ratio of 1.68 and a beta of 0.75. BioTelemetry, Inc. has a fifty-two week low of $23.30 and a fifty-two week high of $39.20.
Several analysts have recently weighed in on the company. BidaskClub downgraded BioTelemetry from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded BioTelemetry from a “strong sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Dougherty & Co reiterated a “buy” rating and set a $41.00 target price (up from $40.00) on shares of BioTelemetry in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. BioTelemetry currently has a consensus rating of “Buy” and an average target price of $43.00.
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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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