1492 Capital Management Lowers stake in BioTelemetry (BEAT)

BioTelemetry (BEAT) : 1492 Capital Management reduced its stake in BioTelemetry by 3.61% during the most recent quarter end. The investment management company now holds a total of 285,777 shares of BioTelemetry which is valued at $5,964,166 after selling 10,700 shares in BioTelemetry , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.BioTelemetry makes up approximately 4.92% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Group One Trading added BEAT to its portfolio by purchasing 10,607 company shares during the most recent quarter which is valued at $221,368. BioTelemetry makes up approx 0.02% of Group One Trading’s portfolio.Tfs Capital reduced its stake in BEAT by selling 92,207 shares or 69.58% in the most recent quarter. The Hedge Fund company now holds 40,303 shares of BEAT which is valued at $841,124. BioTelemetry makes up approx 0.15% of Tfs Capital’s portfolio.Cortina Asset Management reduced its stake in BEAT by selling 357,813 shares or 37.04% in the most recent quarter. The Hedge Fund company now holds 608,209 shares of BEAT which is valued at $12,693,322. BioTelemetry makes up approx 0.54% of Cortina Asset Management’s portfolio. Oxford Asset Management added BEAT to its portfolio by purchasing 113,004 company shares during the most recent quarter which is valued at $2,362,914. BioTelemetry makes up approx 0.09% of Oxford Asset Management’s portfolio.Gabelli Funds reduced its stake in BEAT by selling 45,310 shares or 37.14% in the most recent quarter. The Hedge Fund company now holds 76,690 shares of BEAT which is valued at $1,604,355. BioTelemetry makes up approx 0.01% of Gabelli Funds’s portfolio.

BioTelemetry closed down -0.28 points or -1.45% at $19.01 with 5,42,245 shares getting traded on Monday. Post opening the session at $19.3, the shares hit an intraday low of $18.7 and an intraday high of $19.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, BioTelemetry reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $52.68 million for the quarter, compared to analysts expectations of $50.27 million. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on BioTelemetry. Company shares were Reiterated by The Benchmark Company on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .

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