Kestra Medical Technologies (NASDAQ:KMTS) Shares Down 6% – What’s Next?

Shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) were down 6% during mid-day trading on Friday . The company traded as low as $24.75 and last traded at $25.05. Approximately 39,772 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 239,159 shares. The stock had previously closed at $26.65.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KMTS. Wall Street Zen downgraded Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, September 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kestra Medical Technologies in a research note on Wednesday, December 24th. Piper Sandler raised their target price on Kestra Medical Technologies from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Stifel Nicolaus set a $30.00 price target on Kestra Medical Technologies in a research note on Friday, December 12th. Finally, BTIG Research began coverage on shares of Kestra Medical Technologies in a research report on Tuesday, November 18th. They issued a “buy” rating and a $32.00 price target on the stock. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.43.

Kestra Medical Technologies Trading Down 7.9%

The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.43 billion and a P/E ratio of -7.74. The company has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $21.78.

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $26.59, for a total value of $398,850.00. Following the completion of the transaction, the insider owned 409,786 shares in the company, valued at $10,896,209.74. This represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Traci S. Umberger sold 10,500 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $26.69, for a total transaction of $280,245.00. Following the sale, the insider directly owned 136,633 shares of the company’s stock, valued at $3,646,734.77. This represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in Kestra Medical Technologies during the 1st quarter worth about $11,036,000. Woodline Partners LP bought a new position in shares of Kestra Medical Technologies during the first quarter worth about $2,510,000. Jane Street Group LLC acquired a new stake in Kestra Medical Technologies in the 1st quarter valued at approximately $756,000. Jennison Associates LLC lifted its stake in Kestra Medical Technologies by 79.0% in the 2nd quarter. Jennison Associates LLC now owns 134,272 shares of the company’s stock valued at $2,226,000 after acquiring an additional 59,272 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Kestra Medical Technologies by 718.5% during the 2nd quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock worth $5,395,000 after acquiring an additional 285,579 shares during the last quarter.

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.