Millrace Asset Group Lowers stake in BioTelemetry (BEAT)

BioTelemetry (BEAT) : Millrace Asset Group reduced its stake in BioTelemetry by 55.99% during the most recent quarter end. The investment management company now holds a total of 93,855 shares of BioTelemetry which is valued at $1,958,754 after selling 119,400 shares in BioTelemetry , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.BioTelemetry makes up approximately 2.91% of Millrace Asset Group’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md reduced its stake in BEAT by selling 16 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 11,784 shares of BEAT which is valued at $245,932.Rhumbline Advisers boosted its stake in BEAT in the latest quarter, The investment management firm added 1,190 additional shares and now holds a total of 27,082 shares of BioTelemetry which is valued at $565,201. Spot Trading L.l.c added BEAT to its portfolio by purchasing 3,077 company shares during the most recent quarter which is valued at $63,786. BioTelemetry makes up approx 0.01% of Spot Trading L.l.c’s portfolio.Emerald Advisers Incpa reduced its stake in BEAT by selling 127,200 shares or 24.29% in the most recent quarter. The Hedge Fund company now holds 396,496 shares of BEAT which is valued at $7,541,354. BioTelemetry makes up approx 0.34% of Emerald Advisers Incpa’s portfolio.First Midwest Bank Trust Division boosted its stake in BEAT in the latest quarter, The investment management firm added 19,849 additional shares and now holds a total of 63,552 shares of BioTelemetry which is valued at $1,211,301. BioTelemetry makes up approx 0.15% of First Midwest Bank Trust Division’s portfolio.

BioTelemetry opened for trading at $18.58 and hit $18.88 on the upside on Thursday, eventually ending the session at $18.7, with a gain of 1.25% or 0.23 points. The heightened volatility saw the trading volume jump to 3,22,123 shares. Company has a market cap of $524 M.

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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