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

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s share price gapped up before the market opened on Friday. The stock had previously closed at $25.47, but opened at $28.71. Kestra Medical Technologies shares last traded at $28.5050, with a volume of 11,352 shares trading hands.

Analyst Ratings Changes

KMTS has been the topic of several research reports. Wolfe Research set a $30.00 price objective on shares of Kestra Medical Technologies in a report on Wednesday, July 15th. BTIG Research restated a “buy” rating and issued a $32.00 target price on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Wall Street Zen lowered shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. JPMorgan Chase & Co. initiated coverage on shares of Kestra Medical Technologies in a report on Monday, August 10th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Royal Bank Of Canada set a $30.00 target price on Kestra Medical Technologies in a report on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.38.

Kestra Medical Technologies Trading Down 0.9%

The company has a market capitalization of $1.69 billion, a PE ratio of -10.51 and a beta of 0.51. The firm’s 50 day simple moving average is $26.37 and its 200-day simple moving average is $23.49. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 0.33.

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

Insiders Place Their Bets

In other Kestra Medical Technologies news, CFO Vaseem Mahboob sold 26,287 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $25.88, for a total value of $680,307.56. Following the completion of the sale, the chief financial officer owned 60,609 shares of the company’s stock, valued at $1,568,560.92. The trade was a 30.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy P. Moran sold 8,759 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.61, for a total value of $198,040.99. Following the completion of the sale, the insider directly owned 68,725 shares in the company, valued at approximately $1,553,872.25. This represents a 11.30% 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 worth $5,997,473 over the last three months. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP grew its position in shares of Kestra Medical Technologies by 284.2% during the 2nd quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock worth $1,542,000 after buying an additional 44,839 shares during the period. Sei Investments Co. increased 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 valued at $4,726,000 after buying an additional 43,753 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in Kestra Medical Technologies during the first quarter worth $603,000. Bank of New York Mellon Corp boosted its stake in shares of Kestra Medical Technologies by 47.2% during 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 period. Finally, Quantinno Capital Management LP bought a new position in Kestra Medical Technologies in the 1st quarter valued at about $431,000.

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.