Good Morning. I wanted to update you with a quick move I made in the IRA. I’ve made room for a starter position in Biotelemetry Inc., $BEAT after selling out of $CRZO at a loss. Crude oil continues to plummet and I wanted to reduce exposure to that sector. Some info on BEAT courtesy of Exodus Market Intelligence:
BioTelemetry, Inc. provides cardiac monitoring, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. It operates in three segments: Healthcare, Technology, and Research. (abbreviated)
Historically it has performed well against the benchmark:
Revenue growth is trending in the right direction:
In terms of technicals you have price trying to break out of a downtrend as we speak with the MACD lines and histogram seemingly confirming a move higher is in the making.
My hope is that BEAT outperforms what it replaced in my portfolio.
I think it will.
Trent J. Smalley, CMT