Logan Capital Management Inc. Purchases 46,874 Shares of BioTelemetry Inc (NASDAQ:BEAT)

Logan Capital Management Inc. raised its position in shares of BioTelemetry Inc (NASDAQ:BEAT) by 43.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,444 shares of the medical research company’s stock after acquiring an additional 46,874 shares during the period. Logan Capital Management Inc. owned approximately 0.46% of BioTelemetry worth $7,437,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pearl River Capital LLC boosted its holdings in BioTelemetry by 104.0% during the first quarter. Pearl River Capital LLC now owns 408 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 208 shares during the period. Citizens Financial Group Inc RI acquired a new position in shares of BioTelemetry during the first quarter valued at about $38,000. Arcadia Investment Management Corp MI acquired a new position in shares of BioTelemetry during the second quarter valued at about $29,000. Huntington National Bank raised its position in shares of BioTelemetry by 35.5% during the first quarter. Huntington National Bank now owns 680 shares of the medical research company’s stock valued at $43,000 after buying an additional 178 shares during the last quarter. Finally, Ropes Wealth Advisors LLC acquired a new position in shares of BioTelemetry during the first quarter valued at about $50,000. Institutional investors own 91.68% of the company’s stock.

Shares of BEAT opened at $42.03 on Friday. The company’s 50-day moving average is $47.71. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 21.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.19 and a quick ratio of 1.84. BioTelemetry Inc has a 52 week low of $39.41 and a 52 week high of $80.92.

BioTelemetry (NASDAQ:BEAT) last posted its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.08. BioTelemetry had a net margin of 11.06% and a return on equity of 22.98%. The firm had revenue of $111.80 million during the quarter, compared to analyst estimates of $111.11 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that BioTelemetry Inc will post 1.96 earnings per share for the current year.

BEAT has been the subject of a number of research analyst reports. Raymond James lowered shares of BioTelemetry from an “outperform” rating to a “market perform” rating in a research report on Friday. Lake Street Capital set a $90.00 price objective on shares of BioTelemetry and gave the company a “buy” rating in a research report on Wednesday. ValuEngine lowered shares of BioTelemetry from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Dougherty & Co reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $81.00) on shares of BioTelemetry in a research report on Friday, April 26th. Finally, BidaskClub lowered shares of BioTelemetry from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.57.

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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