Kestra Medical Technologies (NASDAQ:KMTS) Shares Up 7.9% – Here’s What Happened

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price shot up 7.9% during mid-day trading on Friday . The company traded as high as $22.36 and last traded at $23.2690. 2,228 shares were traded during trading, a decline of 99% from the average session volume of 319,030 shares. The stock had previously closed at $21.56.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a report on Monday, March 23rd. The Goldman Sachs Group lowered their price target on Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, BTIG Research reiterated a “buy” rating and set a $32.00 price objective on shares of Kestra Medical Technologies in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.40.

Kestra Medical Technologies Stock Up 1.5%

The company has a market capitalization of $1.28 billion, a PE ratio of -5.56 and a beta of 0.82. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $20.52 and its two-hundred day moving average is $23.72.

Kestra Medical Technologies (NASDAQ:KMTS) last announced its earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). Kestra Medical Technologies had a negative net margin of 171.87% and a negative return on equity of 65.49%. The company had revenue of $24.55 million during the quarter. The company’s quarterly revenue was up 62.7% compared to the same quarter last year. As a group, analysts predict that Kestra Medical Technologies, Ltd. will post -2.34 EPS for the current year.

Insiders Place Their Bets

In related news, insider Brian Daniel Webster sold 15,000 shares of Kestra Medical Technologies stock in a transaction on Friday, May 15th. The shares were sold at an average price of $20.96, for a total value of $314,400.00. Following the sale, the insider owned 334,786 shares in the company, valued at $7,017,114.56. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 45,000 shares of company stock valued at $919,050 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of Kestra Medical Technologies

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kestra Medical Technologies by 137.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,369,429 shares of the company’s stock valued at $115,878,000 after buying an additional 2,529,851 shares in the last quarter. Franklin Resources Inc. raised its position in Kestra Medical Technologies by 180.8% in the 4th quarter. Franklin Resources Inc. now owns 951,008 shares of the company’s stock worth $25,221,000 after buying an additional 612,343 shares during the last quarter. Millennium Management LLC purchased a new position in Kestra Medical Technologies in the 1st quarter worth about $11,036,000. Brown Advisory Inc. raised its position in Kestra Medical Technologies by 34.1% in the 4th quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock worth $44,775,000 after buying an additional 428,996 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new position in Kestra Medical Technologies in the 4th quarter worth about $9,282,000.

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.