Heartbeam Inc (NASDAQ:BEAT) shares are trading higher by 3.5% to $2.35 Tuesday, pulling back following the session high of $2.70. The earlier move higher came despite a lack of company-specific news for the session.
The company last week said it secured two new patents from the United States Patent and Trademark Office for its vectorelectrocardiography (VECG) technology, bringing its total to 14 issued US patents and 4 international patents.
The VECG technology collects 3D signals of the heart and converts them into a 12-lead ECG. These patents reinforce HeartBeam's commitment to transforming cardiac care by enabling personalized insights through portable, patient-friendly devices such as credit-card sized systems, extended wear patches or watches.
The first patent focuses on a mobile three-lead cardiac monitoring device and method for automated diagnostics, aiding in the detection of heart attacks. The second patent covers HeartBeam's wrist-based ECG system, which combines continuous monitoring with the ability to take a high sensitivity 12-lead ECG.
Is BEAT A Good Stock To Buy?
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like HeartBeam's page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. HeartBeam (NASDAQ:BEAT) does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on HeartBeam will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from Benzinga Pro, BEAT has a 52-week high of $3.74 and a 52-week low of $1.06.