Loomis Sayles & Co. L P Buys New Stake in BioTelemetry Inc (BEAT)

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Loomis Sayles & Co. L P bought a new stake in shares of BioTelemetry Inc (NASDAQ:BEAT) during the 3rd quarter, Holdings Channel reports. The firm bought 360,133 shares of the medical research company’s stock, valued at approximately $23,211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in BioTelemetry by 7.8% during the third quarter. BlackRock Inc. now owns 4,957,817 shares of the medical research company’s stock valued at $319,531,000 after purchasing an additional 360,529 shares in the last quarter. Macquarie Group Ltd. lifted its position in BioTelemetry by 1.6% during the second quarter. Macquarie Group Ltd. now owns 1,280,006 shares of the medical research company’s stock valued at $57,600,000 after purchasing an additional 19,749 shares in the last quarter. Credit Suisse AG lifted its position in BioTelemetry by 18.2% during the third quarter. Credit Suisse AG now owns 826,222 shares of the medical research company’s stock valued at $53,250,000 after purchasing an additional 127,195 shares in the last quarter. Sterling Capital Management LLC lifted its position in BioTelemetry by 6.7% during the second quarter. Sterling Capital Management LLC now owns 556,788 shares of the medical research company’s stock valued at $25,055,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Northern Trust Corp lifted its position in BioTelemetry by 3.2% during the second quarter. Northern Trust Corp now owns 460,018 shares of the medical research company’s stock valued at $20,701,000 after purchasing an additional 14,145 shares in the last quarter. Institutional investors own 88.94% of the company’s stock.

In other news, Director Kirk E. Gorman sold 625 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $65.07, for a total value of $40,668.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Fred Broadway sold 90,113 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $65.00, for a total value of $5,857,345.00. The disclosure for this sale can be found here. Insiders sold 174,852 shares of company stock worth $10,995,097 over the last 90 days. Company insiders own 9.60% of the company’s stock.

Several equities analysts recently weighed in on BEAT shares. BidaskClub downgraded BioTelemetry from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. SunTrust Banks lifted their target price on BioTelemetry to $67.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Finally, Raymond James lifted 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. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $61.17.

NASDAQ BEAT opened at $68.20 on Thursday. The firm has a market cap of $2.27 billion, a P/E ratio of 70.31, a P/E/G ratio of 3.78 and a beta of 1.58. The company has a current ratio of 2.68, a quick ratio of 2.50 and a debt-to-equity ratio of 0.66. BioTelemetry Inc has a fifty-two week low of $25.95 and a fifty-two week high of $74.73.

BioTelemetry (NASDAQ:BEAT) last announced its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.21. BioTelemetry had a return on equity of 22.56% and a net margin of 4.34%. The business had revenue of $100.00 million for the quarter, compared to the consensus estimate of $97.89 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business’s revenue was up 23.5% on a year-over-year basis. On average, equities research analysts anticipate that BioTelemetry Inc will post 1.81 EPS for the current year.

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BioTelemetry 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.

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Institutional Ownership by Quarter for BioTelemetry (NASDAQ:BEAT)

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