Evercore Begins Coverage on Kestra Medical Technologies (NASDAQ:KMTS)

Stock analysts at Evercore assumed coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $34.00 price target on the stock. Evercore’s price objective points to a potential upside of 15.76% from the stock’s previous close.

KMTS has been the topic of several other research reports. Oppenheimer initiated coverage on Kestra Medical Technologies in a research report on Tuesday, July 21st. They set a “market perform” rating on the stock. Piper Sandler reissued an “overweight” rating on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. Wolfe Research set a $30.00 price objective on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Kestra Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 16th. Finally, BTIG Research reiterated a “buy” rating and set a $32.00 target price on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Kestra Medical Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Kestra Medical Technologies Trading Up 7.8%

KMTS stock opened at $29.37 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.69 and a current ratio of 4.69. The company’s fifty day simple moving average is $26.41 and its 200 day simple moving average is $23.62. Kestra Medical Technologies has a 12-month low of $17.34 and a 12-month high of $30.00.

Kestra Medical Technologies (NASDAQ:KMTS) last issued 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). 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 for the quarter. As a group, research analysts predict that Kestra Medical Technologies will post -2.45 EPS for the current fiscal year.

Insider Buying and Selling at Kestra Medical Technologies

In related news, insider Alfred Ford, Jr. sold 13,015 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $23.90, for a total transaction of $311,058.50. Following the transaction, the insider directly owned 105,839 shares of the company’s stock, valued at approximately $2,529,552.10. This represents a 10.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the stock in a transaction that occurred 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 completion of the transaction, the insider owned 475,215 shares in the company, valued at approximately $11,652,271.80. The trade was a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 246,928 shares of company stock worth $5,997,473 in the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Large investors have recently modified their holdings of the company. Quantinno Capital Management LP bought a new stake in Kestra Medical Technologies during the 1st quarter valued at $431,000. California State Teachers Retirement System raised its holdings in Kestra Medical Technologies by 39.2% during the first quarter. California State Teachers Retirement System now owns 27,835 shares of the company’s stock worth $555,000 after buying an additional 7,844 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new position in shares of Kestra Medical Technologies in the first quarter valued at $603,000. Corient Private Wealth LP lifted its stake in shares of Kestra Medical Technologies by 284.2% in the second quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock valued at $1,542,000 after buying an additional 44,839 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Kestra Medical Technologies by 47.2% in the first quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock valued at $1,397,000 after buying an additional 22,471 shares in 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.