Kestra Medical Technologies (NASDAQ:KMTS) Shares Up 7% – Here’s Why

Shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) traded up 7% during mid-day trading on Tuesday . The stock traded as high as $20.45 and last traded at $20.60. 63,639 shares traded hands during trading, a decline of 78% from the average session volume of 287,193 shares. The stock had previously closed at $19.26.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KMTS shares. Piper Sandler upped their price target on shares of Kestra Medical Technologies from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kestra Medical Technologies in a research note on Wednesday, December 24th. Stifel Nicolaus set a $30.00 price objective on Kestra Medical Technologies in a research note on Friday, December 12th. Wells Fargo & Company lifted their target price on Kestra Medical Technologies from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Finally, The Goldman Sachs Group set a $24.00 price objective on Kestra Medical Technologies in a research note on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Kestra Medical Technologies Trading Down 7.4%

The firm has a market cap of $1.14 billion and a P/E ratio of -4.94. The firm has a fifty day moving average of $24.19 and a 200-day moving average of $24.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.47 and a current ratio of 5.47.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.01). The company had revenue of $24.55 million during the quarter. Kestra Medical Technologies had a negative return on equity of 74.66% and a negative net margin of 171.87%.The company’s revenue for the quarter was up 62.7% compared to the same quarter last year.

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of Kestra Medical Technologies stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $25.60, for a total transaction of $384,000.00. Following the sale, the insider owned 379,786 shares of the company’s stock, valued at approximately $9,722,521.60. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Traci S. Umberger sold 10,500 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $26.69, for a total value of $280,245.00. Following the completion of the transaction, the insider directly owned 136,633 shares of the company’s stock, valued at $3,646,734.77. This trade represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,500 shares of company stock worth $1,405,095 in the last 90 days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. bought a new stake in shares of Kestra Medical Technologies during the 4th quarter worth about $239,000. Perceptive Advisors LLC acquired a new position in shares of Kestra Medical Technologies during the fourth quarter valued at approximately $7,558,000. Janus Henderson Group PLC acquired a new stake in Kestra Medical Technologies in the fourth quarter worth approximately $300,000. Balyasny Asset Management L.P. boosted its stake in Kestra Medical Technologies by 80.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 6,915 shares of the company’s stock valued at $183,000 after purchasing an additional 3,086 shares in the last quarter. Finally, Burkehill Global Management LP acquired a new position in shares of Kestra Medical Technologies during the 4th quarter valued at $1,326,000.

Kestra Medical Technologies Company Profile

We are a commercial-stage, wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected. We have developed and are commercializing our Cardiac Recovery System platform, a comprehensive and advanced system that integrates monitoring, therapeutic treatment, digital health, and patient support services into a single, unified solution. The cornerstone of our Cardiac Recovery System platform is the ASSURE WCD, a next generation wearable cardioverter defibrillator (“WCD”) used to protect patients at an elevated risk of sudden cardiac arrest (“SCA”), a major public health problem that accounts for approximately 50% of all cardiovascular deaths in the U.S.