Kestra Medical Technologies (NASDAQ:KMTS) Hits New 12-Month High – Here’s What Happened

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price hit a new 52-week high during trading on Tuesday. The company traded as high as $30.10 and last traded at $29.9050, with a volume of 91,399 shares. The stock had previously closed at $29.42.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KMTS. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a research note on Wednesday, July 15th. Evercore assumed coverage on shares of Kestra Medical Technologies in a research note on Tuesday, October 20th. They set an “outperform” rating and a $34.00 target price for the company. Weiss Ratings raised shares of Kestra Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 16th. Finally, Oppenheimer started coverage on Kestra Medical Technologies in a report on Tuesday, July 21st. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.00.

Kestra Medical Technologies Stock Up 1.9%

The firm has a fifty day simple moving average of $26.51 and a 200 day simple moving average of $23.73. The company has a market cap of $1.79 billion, a PE ratio of -11.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.69 and a current ratio of 4.69.

Kestra Medical Technologies (NASDAQ:KMTS) last released its quarterly earnings data on Monday, September 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.14). Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%. The business had revenue of $30.97 million for the quarter. Equities research analysts predict that Kestra Medical Technologies, Ltd. will post -2.45 EPS for the current year.

Insider Activity

In other news, Director Elizabeth Kwo sold 4,010 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $24.26, for a total transaction of $97,282.60. Following the sale, the director owned 14,116 shares in the company, valued at $342,454.16. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey Schwartz sold 3,890 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.18, for a total transaction of $97,950.20. Following the completion of the sale, the director directly owned 7,019 shares of the company’s stock, valued at $176,738.42. This represents a 35.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 361,928 shares of company stock worth $9,158,873. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in shares of Kestra Medical Technologies by 22.6% during the 1st quarter. Sei Investments Co. now owns 237,116 shares of the company’s stock worth $4,726,000 after acquiring an additional 43,753 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Kestra Medical Technologies by 6.6% in the 1st 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. Bank of New York Mellon Corp grew its position in shares of Kestra Medical Technologies by 47.2% during 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. Corient Private Wealth LP lifted its holdings in shares of Kestra Medical Technologies by 284.2% in the 2nd quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock worth $1,542,000 after purchasing an additional 44,839 shares in the last quarter. Finally, Spartan Wealth Advisory Services LLC purchased a new stake in shares of Kestra Medical Technologies in the first quarter worth approximately $603,000.

About Kestra Medical Technologies

Kestra Medical Technologies, Inc is a medical technology company focused on developing and commercializing wearable solutions for patients at risk of sudden cardiac arrest. Its primary product is the ASSURE wearable cardioverter defibrillator, a wearable device designed to continuously monitor a patient’s heart rhythm and deliver a therapeutic shock when clinically necessary.

The company’s platform combines cardiac monitoring, arrhythmia detection and defibrillation capabilities in a wearable system intended for use outside the hospital.