Vaseem Mahboob Sells 8,817 Shares of Kestra Medical Technologies (NASDAQ:KMTS) Stock

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) CFO Vaseem Mahboob sold 8,817 shares of Kestra Medical Technologies stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.61, for a total transaction of $199,352.37. Following the completion of the transaction, the chief financial officer directly owned 99,282 shares of the company’s stock, valued at approximately $2,244,766.02. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vaseem Mahboob also recently made the following trade(s):

• On Monday, August 3rd, Vaseem Mahboob sold 5,391 shares of Kestra Medical Technologies stock. The stock was sold at an average price of $23.80, for a total transaction of $128,305.80.
• On Thursday, July 30th, Vaseem Mahboob sold 3,980 shares of Kestra Medical Technologies stock. The shares were sold at an average price of $22.75, for a total transaction of $90,545.00.

Kestra Medical Technologies Trading Up 8.1%

Shares of NASDAQ:KMTS opened at $25.93 on Wednesday. Kestra Medical Technologies, Ltd. has a 52-week low of $14.10 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.41 and a current ratio of 4.41. The company has a market capitalization of $1.52 billion, a P/E ratio of -10.71 and a beta of 0.58. The company has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $22.51.

Kestra Medical Technologies (NASDAQ:KMTS) last announced its quarterly earnings results on Tuesday, July 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.08). Kestra Medical Technologies had a negative return on equity of 57.38% and a negative net margin of 138.35%.The business had revenue of $28.64 million for the quarter. Sell-side analysts forecast that Kestra Medical Technologies, Ltd. will post -2.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on KMTS. Wolfe Research set a $30.00 price objective on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. The Goldman Sachs Group dropped their price objective 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. Wall Street Zen downgraded shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings downgraded shares of Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. Finally, BTIG Research boosted their price objective on Kestra Medical Technologies from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in Kestra Medical Technologies in the first quarter valued at about $11,036,000. Woodline Partners LP bought a new stake in shares of Kestra Medical Technologies during the 1st quarter worth approximately $2,510,000. Jane Street Group LLC acquired a new stake in shares of Kestra Medical Technologies during the 1st quarter worth approximately $756,000. Geode Capital Management LLC increased its stake in Kestra Medical Technologies by 718.5% in the second quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock valued at $5,395,000 after acquiring an additional 285,579 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Kestra Medical Technologies during the second quarter worth $256,000.

Kestra Medical Technologies News Roundup

Here are the key news stories impacting Kestra Medical Technologies this week:

• Positive Sentiment: Analyst sentiment remains mixed but includes three Buy ratings, with a consensus price target of $27.83. BTIG Research raised its target to $32 and maintained a Buy rating, while Wolfe Research set a $30 objective. Kestra Medical Technologies insider-selling report
• Positive Sentiment: Several institutional investors increased their positions, including Russell Investments Group, Brown Brothers Harriman, Rhumbline Advisers and New Jersey’s Police & Firemen’s Retirement System. These additions provide some support for institutional interest in KMTS.
• Neutral Sentiment: Executives and insiders sold roughly 103,000 shares worth more than $2.2 million between July 30 and August 3. Sellers included CFO Vaseem Mahboob and insiders Brian Daniel Webster, Traci S. Umberger, Alfred J. Ford Jr. and Timothy P. Moran. Because the filings specify tax-related sales, the transactions may reflect equity vesting rather than discretionary selling.
• Negative Sentiment: The number of sellers, including the CFO, could still weigh on investor sentiment and raise concerns about management ownership. Kestra’s latest quarterly loss of $0.67 per share exceeded the expected loss of $0.59, while revenue was $28.64 million and the company remains unprofitable.

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.