BioTelemetry Inc (NASDAQ:BEAT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in BioTelemetry Inc (NASDAQ:BEAT) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,203 shares of the medical research company’s stock after acquiring an additional 8,277 shares during the period. JPMorgan Chase & Co.’s holdings in BioTelemetry were worth $7,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BEAT. Eagle Asset Management Inc. bought a new stake in shares of BioTelemetry during the first quarter worth $31,052,000. Carillon Tower Advisers Inc. raised its holdings in BioTelemetry by 284.2% during the 1st quarter. Carillon Tower Advisers Inc. now owns 478,632 shares of the medical research company’s stock valued at $29,972,000 after acquiring an additional 354,043 shares during the period. Deutsche Bank AG raised its holdings in BioTelemetry by 119.7% during the 4th quarter. Deutsche Bank AG now owns 310,751 shares of the medical research company’s stock valued at $18,556,000 after acquiring an additional 169,306 shares during the period. Meritage Portfolio Management bought a new stake in BioTelemetry during the 1st quarter valued at $9,848,000. Finally, Legal & General Group Plc raised its holdings in BioTelemetry by 213.4% during the 4th quarter. Legal & General Group Plc now owns 219,499 shares of the medical research company’s stock valued at $13,054,000 after acquiring an additional 149,453 shares during the period. 90.75% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on BEAT shares. ValuEngine cut shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 23rd. Lake Street Capital set a $90.00 target price on shares of BioTelemetry and gave the stock a “buy” rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded shares of BioTelemetry from a “hold” rating to a “strong-buy” rating and set a $84.00 target price for the company in a research report on Thursday, February 28th. Benchmark set a $82.00 price target on shares of BioTelemetry and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, BidaskClub lowered shares of BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. BioTelemetry has an average rating of “Buy” and an average target price of $79.57.

NASDAQ BEAT opened at $49.79 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.99 and a debt-to-equity ratio of 0.57. BioTelemetry Inc has a 12-month low of $43.30 and a 12-month high of $80.92. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 25.66 and a beta of 1.42.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. BioTelemetry had a net margin of 11.86% and a return on equity of 23.36%. The business had revenue of $103.98 million during the quarter, compared to analyst estimates of $104.17 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that BioTelemetry Inc will post 1.9 earnings per share for the current fiscal year.

In other BioTelemetry news, Director Kirk E. Gorman sold 5,518 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $53.69, for a total transaction of $296,261.42. Following the completion of the sale, the director now directly owns 178,833 shares in the company, valued at $9,601,543.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.50% of the company’s stock.

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BioTelemetry 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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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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