Kestra Medical Technologies (NASDAQ:KMTS) Issues Quarterly Earnings Results

Kestra Medical Technologies (NASDAQ:KMTS) announced its quarterly earnings data on Monday. The company reported ($0.75) earnings per share (EPS) for the quarter, FiscalAI reports. Kestra Medical Technologies had a negative net margin of 138.35% and a negative return on equity of 57.38%. The company had revenue of $30.97 million for the quarter.

Kestra Medical Technologies Trading Up 5.3%

KMTS stock traded up $1.21 on Monday, reaching $24.06. The company’s stock had a trading volume of 678,845 shares, compared to its average volume of 334,298. The firm has a market cap of $1.41 billion, a PE ratio of -9.94 and a beta of 0.62. The business has a fifty day simple moving average of $25.34 and a two-hundred day simple moving average of $22.68. Kestra Medical Technologies has a 12-month low of $17.34 and a 12-month 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.

Analysts Set New Price Targets

KMTS has been the subject of several analyst reports. Weiss Ratings cut Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. BTIG Research reissued a “buy” rating and set a $32.00 price objective on shares of Kestra Medical Technologies in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. assumed coverage on shares of Kestra Medical Technologies in a report on Monday, August 10th. They issued an “overweight” rating and a $30.00 target price on the stock. Wolfe Research set a $30.00 price target on shares of Kestra Medical Technologies in a report on Wednesday, July 15th. Finally, Oppenheimer assumed coverage on shares of Kestra Medical Technologies in a research report on Tuesday, July 21st. They set a “market perform” rating for the company. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.14.

Insider Buying and Selling at Kestra Medical Technologies

In related news, insider Timothy P. Moran sold 8,759 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $22.61, for a total transaction of $198,040.99. Following the transaction, the insider owned 68,725 shares in the company, valued at $1,553,872.25. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vaseem Mahboob sold 26,287 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $25.88, for a total transaction of $680,307.56. Following the completion of the transaction, the chief financial officer directly owned 60,609 shares of the company’s stock, valued at approximately $1,568,560.92. The trade was a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 239,588 shares of company stock worth $5,802,688. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KMTS. The Manufacturers Life Insurance Company grew its stake in Kestra Medical Technologies by 6.6% in the first quarter. The Manufacturers Life Insurance Company now owns 92,515 shares of the company’s stock worth $1,844,000 after purchasing an additional 5,731 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Kestra Medical Technologies by 39.2% during the 1st quarter. California State Teachers Retirement System now owns 27,835 shares of the company’s stock valued at $555,000 after buying an additional 7,844 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Kestra Medical Technologies in the 1st quarter worth about $431,000. Bank of New York Mellon Corp grew its position in shares of Kestra Medical Technologies by 47.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock worth $1,397,000 after buying an additional 22,471 shares during the period. Finally, Spartan Wealth Advisory Services LLC bought a new position in shares of Kestra Medical Technologies in the 1st quarter worth about $603,000.

About Kestra Medical Technologies

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies for patients at risk of sudden cardiac arrest. The company’s primary product is the ASSURE wearable cardioverter defibrillator, a wearable system designed to continuously monitor a patient’s heart rhythm and deliver an electrical shock when a life-threatening arrhythmia is detected.

The ASSURE system is intended to provide temporary protection for patients who may be at elevated risk of sudden cardiac death but are not yet candidates for, or are awaiting, an implantable cardioverter-defibrillator.