Kestra Medical Technologies (NASDAQ:KMTS) Shares Up 8.2% – Here’s What Happened

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s share price shot up 8.2% during mid-day trading on Monday . The stock traded as high as $28.70 and last traded at $28.57. 116,495 shares traded hands during trading, a decline of 66% from the average session volume of 342,883 shares. The stock had previously closed at $26.40.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Kestra Medical Technologies from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 16th. Oppenheimer initiated coverage on shares of Kestra Medical Technologies in a research note on Tuesday, July 21st. They issued a “market perform” rating on the stock. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a report on Wednesday, July 15th. Finally, BTIG Research boosted their target price on Kestra Medical Technologies from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of “Hold” and a consensus target price of $28.14.

Kestra Medical Technologies Stock Up 7.4%

The business’s 50 day simple moving average is $22.96 and its 200 day simple moving average is $22.57. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.66 billion, a PE ratio of -11.67 and a beta of 0.58.

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

Insider Buying and Selling at Kestra Medical Technologies

In related news, insider Brian Daniel Webster sold 51,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.52, for a total transaction of $1,272,588.00. Following the transaction, the insider directly owned 475,215 shares of the company’s stock, valued at approximately $11,652,271.80. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vaseem Mahboob sold 6,995 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.68, for a total transaction of $172,636.60. Following the transaction, the chief financial officer owned 86,896 shares in the company, valued at approximately $2,144,593.28. This represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 211,877 shares of company stock valued at $4,922,844 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $115,878,000 after purchasing an additional 2,529,851 shares during the period. Franklin Resources Inc. lifted its stake in shares of Kestra Medical Technologies by 180.8% in the fourth quarter. Franklin Resources Inc. now owns 951,008 shares of the company’s stock valued at $25,221,000 after buying an additional 612,343 shares during the period. Millennium Management LLC acquired a new stake in shares of Kestra Medical Technologies during the 1st quarter worth approximately $11,036,000. Brown Advisory Inc. boosted its stake in Kestra Medical Technologies by 34.1% during 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 bought a new stake in Kestra Medical Technologies in the fourth quarter valued at about $9,282,000.

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.