Millrace Asset Group Lowers stake in BioTelemetry (BEAT)

BioTelemetry (BEAT) : Millrace Asset Group reduced its stake in BioTelemetry by 0.21% during the most recent quarter end. The investment management company now holds a total of 213,255 shares of BioTelemetry which is valued at $3.2 Million after selling 458 shares in BioTelemetry , the firm said in a disclosure report filed with the SEC on May 13, 2016.BioTelemetry makes up approximately 4.71% of Millrace Asset Group’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp added BEAT to its portfolio by purchasing 556,300 company shares during the most recent quarter which is valued at $8.3 Million. Group One Trading sold out all of its stake in BEAT during the most recent quarter. The investment firm sold 1,371 shares of BEAT which is valued $20,551.Blackrock Fund Advisors reduced its stake in BEAT by selling 30,801 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 703,726 shares of BEAT which is valued at $10.5 Million. Airain Ltd sold out all of its stake in BEAT during the most recent quarter. The investment firm sold 20,217 shares of BEAT which is valued $303,053.

BioTelemetry closed down -0.17 points or -0.99% at $17 with 5,56,521 shares getting traded on Wednesday. Post opening the session at $17.31, the shares hit an intraday low of $16.99 and an intraday high of $17.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, BioTelemetry reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.10. The company had revenue of $48.60 million for the quarter, compared to analysts expectations of $46.54 million. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

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