South Dakota Investment Council Invests $2.64 Million in BioTelemetry Inc (NASDAQ:BEAT)
South Dakota Investment Council purchased a new position in BioTelemetry Inc (NASDAQ:BEAT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 54,900 shares of the medical research company’s stock, valued at approximately $2,643,000. South Dakota Investment Council owned approximately 0.16% of BioTelemetry as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Rothschild & Co. Asset Management US Inc. grew its stake in BioTelemetry by 712.0% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 310,504 shares of the medical research company’s stock valued at $19,444,000 after purchasing an additional 272,265 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of BioTelemetry by 42.4% in the second quarter. Stephens Investment Management Group LLC now owns 668,530 shares of the medical research company’s stock worth $32,190,000 after purchasing an additional 199,171 shares in the last quarter. Pembroke Management LTD lifted its position in shares of BioTelemetry by 77.7% in the second quarter. Pembroke Management LTD now owns 334,381 shares of the medical research company’s stock worth $16,100,000 after purchasing an additional 146,181 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of BioTelemetry by 113.6% during the second quarter. JPMorgan Chase & Co. now owns 239,711 shares of the medical research company’s stock worth $11,499,000 after purchasing an additional 127,508 shares during the period. Finally, Summit Creek Advisors LLC boosted its holdings in shares of BioTelemetry by 60.6% during the second quarter. Summit Creek Advisors LLC now owns 302,940 shares of the medical research company’s stock worth $14,587,000 after purchasing an additional 114,360 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.
Shares of BEAT traded up $1.88 during trading hours on Wednesday, reaching $42.19. 8,214 shares of the company traded hands, compared to its average volume of 269,062. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.09 and a current ratio of 2.19. The stock’s fifty day moving average is $41.69 and its 200 day moving average is $52.06. BioTelemetry Inc has a 1-year low of $38.45 and a 1-year high of $80.92. The stock has a market cap of $1.38 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40.
In related news, SVP Peter Ferola sold 44,276 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 19,622 shares in the company, valued at $765,846.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on BEAT shares. TheStreet cut BioTelemetry from a “b-” rating to a “c+” rating in a research report on Friday, August 16th. Raymond James lowered BioTelemetry from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. ValuEngine cut BioTelemetry from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Zacks Investment Research downgraded shares of BioTelemetry from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Sidoti lowered their price objective on shares of BioTelemetry from $95.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target 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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