Jennison Associates LLC Boosts Stake in Kestra Medical Technologies, Ltd. $KMTS

Jennison Associates LLC raised its position in Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) by 15.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 219,355 shares of the company’s stock after purchasing an additional 28,573 shares during the period. Jennison Associates LLC’s holdings in Kestra Medical Technologies were worth $5,817,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Kestra Medical Technologies in the 4th quarter valued at about $31,000. China Universal Asset Management Co. Ltd. purchased a new position in Kestra Medical Technologies in the 3rd quarter valued at about $48,000. BNP Paribas Financial Markets boosted its position in Kestra Medical Technologies by 148.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,738 shares of the company’s stock valued at $65,000 after buying an additional 1,638 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Kestra Medical Technologies by 26.8% during the third quarter. Brown Brothers Harriman & Co. now owns 3,104 shares of the company’s stock worth $74,000 after purchasing an additional 656 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Kestra Medical Technologies during the second quarter worth about $93,000.

Kestra Medical Technologies Trading Up 5.3%

Kestra Medical Technologies stock opened at $21.82 on Friday. Kestra Medical Technologies, Ltd. has a 1 year low of $13.25 and a 1 year high of $30.00. The firm’s 50-day moving average is $21.34 and its 200-day moving average is $24.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.32 and a current ratio of 7.32. The company has a market cap of $1.27 billion, a P/E ratio of -5.51 and a beta of 0.83.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate 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 business had revenue of $24.55 million during the quarter. The firm’s revenue for the quarter was up 62.7% compared to the same quarter last year. On average, equities analysts expect that Kestra Medical Technologies, Ltd. will post -2.34 earnings per share for the current year.

Insider Transactions at Kestra Medical Technologies

In other Kestra Medical Technologies news, insider Brian Daniel Webster sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.04, for a total value of $300,600.00. Following the transaction, the insider owned 349,786 shares of the company’s stock, valued at $7,009,711.44. This trade represents a 4.11% decrease in their ownership of the stock. The sale 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 $988,650 over the last quarter. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a research report on Monday, March 23rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $32.00 price target 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Kestra Medical Technologies presently has an average rating of “Hold” and a consensus price target of $27.40.

About Kestra Medical Technologies

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.