Kestra Medical Technologies (NASDAQ:KMTS) Stock Jumps 9.8% – What’s Next?

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price rose 9.8% during trading on Thursday. The company traded as high as $27.76 and last traded at $27.9690. Approximately 112,802 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 341,014 shares. The stock had previously closed at $25.47.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. BTIG Research restated a “buy” rating and issued a $32.00 target price on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Finally, JPMorgan Chase & Co. assumed coverage on Kestra Medical Technologies in a report on Monday, August 10th. They set an “overweight” rating and a $30.00 target price for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kestra Medical Technologies has an average rating of “Hold” and an average target price of $28.38.

Kestra Medical Technologies Stock Up 12.4%

The company’s 50-day simple moving average is $26.30 and its two-hundred day simple moving average is $23.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.69 and a quick ratio of 4.69. The firm has a market capitalization of $1.70 billion, a P/E ratio of -10.54 and a beta of 0.51.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its quarterly earnings results on Monday, September 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.14). Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%. The business had revenue of $30.97 million during the quarter. As a group, research analysts expect that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Timothy P. Moran sold 8,759 shares of Kestra Medical Technologies stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.61, for a total transaction of $198,040.99. Following the completion of the transaction, the insider directly owned 68,725 shares of the company’s stock, valued at approximately $1,553,872.25. The trade was a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Webster sold 51,900 shares of Kestra Medical Technologies stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.52, for a total value of $1,272,588.00. Following the sale, the insider owned 475,215 shares of the company’s stock, valued at approximately $11,652,271.80. This trade represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 246,928 shares of company stock valued at $5,997,473 in the last quarter. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors have recently bought and sold shares of the business. Summit Partners Public Asset Management LLC purchased a new stake in shares of Kestra Medical Technologies during the fourth quarter valued at about $9,282,000. Corient Private Wealth LP increased its holdings in shares of Kestra Medical Technologies by 284.2% during the second quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock valued at $1,542,000 after acquiring an additional 44,839 shares in the last quarter. Sei Investments Co. boosted its stake in Kestra Medical Technologies by 22.6% in the 1st quarter. Sei Investments Co. now owns 237,116 shares of the company’s stock worth $4,726,000 after purchasing an additional 43,753 shares in the last quarter. Spartan Wealth Advisory Services LLC purchased a new position in shares of Kestra Medical Technologies in the first quarter worth $603,000. Finally, Bank of New York Mellon Corp raised its stake in Kestra Medical Technologies by 47.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock worth $1,397,000 after acquiring an additional 22,471 shares during the last quarter.

About Kestra Medical Technologies

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies designed to help protect patients at risk of sudden cardiac arrest. The company’s primary product is the ASSURE wearable cardioverter defibrillator, or WCD, which is intended to provide temporary protection for patients who may be at elevated risk of life-threatening ventricular arrhythmias.

The ASSURE system continuously monitors a patient’s heart rhythm and is designed to detect potentially dangerous arrhythmias, including ventricular tachycardia and ventricular fibrillation.