Spectrum Management Group Inc. Takes Position in BioTelemetry Inc (BEAT)

Spectrum Management Group Inc. purchased a new stake in BioTelemetry Inc (NASDAQ:BEAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,790 shares of the medical research company’s stock, valued at approximately $115,000.

Several other hedge funds also recently modified their holdings of BEAT. BlackRock Inc. increased its stake in shares of BioTelemetry by 8.0% in the second quarter. BlackRock Inc. now owns 4,597,288 shares of the medical research company’s stock valued at $206,877,000 after buying an additional 339,306 shares during the period. Castleark Management LLC acquired a new stake in shares of BioTelemetry in the second quarter valued at about $13,712,000. Millennium Management LLC increased its stake in shares of BioTelemetry by 137.3% in the second quarter. Millennium Management LLC now owns 185,208 shares of the medical research company’s stock valued at $8,334,000 after buying an additional 107,166 shares during the period. EAM Investors LLC acquired a new stake in shares of BioTelemetry in the second quarter valued at about $4,591,000. Finally, JPMorgan Chase & Co. increased its stake in shares of BioTelemetry by 230.8% in the first quarter. JPMorgan Chase & Co. now owns 96,032 shares of the medical research company’s stock valued at $2,982,000 after buying an additional 67,002 shares during the period. 93.55% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Lake Street Capital increased their price target on BioTelemetry from $50.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Raymond James upped their target price on BioTelemetry from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, September 14th. BidaskClub lowered BioTelemetry from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, SunTrust Banks upped their target price on BioTelemetry to $67.00 and gave the company a “buy” rating in a research report on Friday, August 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $61.50.

Shares of BioTelemetry stock traded up $0.48 on Tuesday, hitting $50.23. 173,380 shares of the company’s stock traded hands, compared to its average volume of 443,343. BioTelemetry Inc has a one year low of $23.30 and a one year high of $66.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.29 and a quick ratio of 2.12. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 51.78, a PEG ratio of 3.29 and a beta of 1.41.

In other BioTelemetry news, SVP Daniel Wisniewski sold 31,000 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $60.45, for a total value of $1,873,950.00. Following the transaction, the senior vice president now owns 57,291 shares in the company, valued at $3,463,240.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk E. Gorman sold 625 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $62.30, for a total value of $38,937.50. Following the completion of the transaction, the director now owns 173,940 shares in the company, valued at approximately $10,836,462. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,363 shares of company stock worth $7,810,901. 8.30% of the stock is owned by corporate insiders.

BioTelemetry Company Profile

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.

Read More: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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