Kestra Medical Technologies (NASDAQ:KMTS) Shares Up 9.7% – Here’s Why

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) shares shot up 9.7% during trading on Thursday . The stock traded as high as $20.33 and last traded at $20.6460. 33,193 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 315,223 shares. The stock had previously closed at $18.82.

Analyst Ratings Changes

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

Kestra Medical Technologies Stock Down 5.1%

The company has a debt-to-equity ratio of 0.15, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market cap of $1.13 billion, a PE ratio of -4.90 and a beta of 0.83. The business has a fifty day moving average of $20.65 and a 200-day moving average of $23.30.

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

Insider Buying and Selling

In related news, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 334,786 shares of the company’s stock, valued at $7,017,114.56. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 45,000 shares of company stock valued at $919,050 over the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

A number of large investors have recently bought and sold shares of KMTS. Price T Rowe Associates Inc. MD raised its stake in Kestra Medical Technologies by 137.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,369,429 shares of the company’s stock worth $115,878,000 after buying an additional 2,529,851 shares in the last quarter. Franklin Resources Inc. raised its stake in Kestra Medical Technologies by 180.8% in the fourth 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 in the last quarter. Millennium Management LLC bought a new position in Kestra Medical Technologies in the first quarter worth approximately $11,036,000. Brown Advisory Inc. raised its stake in Kestra Medical Technologies by 34.1% in the fourth 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 in the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Kestra Medical Technologies during the fourth quarter worth $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.