Here is What Hedge Funds Think About BioTelemetry, Inc. (BEAT)

Consequently, some big names were breaking ground themselves. Royce & Associates assembled the most outsized position in BioTelemetry, Inc. (NASDAQ:BEAT). Royce & Associates had $3.7 million invested in the company at the end of the quarter. Andy Redleaf’s Whitebox Advisors also initiated a $2 million position during the quarter. The following funds were also among the new BEAT investors: Peter Muller’s PDT Partners, Richard Driehaus’ Driehaus Capital, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as BioTelemetry, Inc. (NASDAQ:BEAT) but similarly valued. We will take a look at First Community Bancshares Inc (NASDAQ:FCBC), Aegean Marine Petroleum Network Inc. (NYSE:ANW), Arbutus Biopharma Corp (NASDAQ:ABUS), and NACCO Industries, Inc. (NYSE:NC). All of these stocks’ market caps are similar to BEAT’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $64 million. That figure was $72 million in BEAT’s case. Aegean Marine Petroleum Network Inc. (NYSE:ANW) is the most popular stock in this table with 23 funds holding long stakes in the company as of the end of September. On the other hand NACCO Industries, Inc. (NYSE:NC) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks BioTelemetry, Inc. (NASDAQ:BEAT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.