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

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $21.82, but opened at $20.45. Kestra Medical Technologies shares last traded at $20.72, with a volume of 869 shares.

Analyst Ratings Changes

Several research firms have weighed in on KMTS. The Goldman Sachs Group decreased their price target on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a research note on Monday, March 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Kestra Medical Technologies in a research note on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kestra Medical Technologies has an average rating of “Hold” and a consensus price target of $27.40.

Kestra Medical Technologies Trading Up 0.6%

The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.23 billion, a P/E ratio of -5.31 and a beta of 0.82. The firm’s 50 day simple moving average is $20.65 and its two-hundred day simple moving average is $23.58.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.01). The company had revenue of $24.55 million during the quarter. Kestra Medical Technologies had a negative net margin of 171.87% and a negative return on equity of 65.49%. The firm’s quarterly revenue was up 62.7% compared to the same quarter last year. As a group, analysts forecast that Kestra Medical Technologies, Ltd. will post -2.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Daniel Webster sold 15,000 shares of Kestra Medical Technologies stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $20.96, for a total transaction of $314,400.00. Following the completion of the transaction, the insider directly owned 334,786 shares in the company, valued at $7,017,114.56. This trade represents a 4.29% 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. Insiders have sold 45,000 shares of company stock worth $919,050 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KMTS. Price T Rowe Associates Inc. MD grew its holdings in shares of Kestra Medical Technologies by 137.5% during 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 buying an additional 2,529,851 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Kestra Medical Technologies by 180.8% during 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 last quarter. Millennium Management LLC acquired a new position in shares of Kestra Medical Technologies during the first quarter valued at about $11,036,000. Brown Advisory Inc. grew its holdings in shares of Kestra Medical Technologies by 34.1% during the fourth quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock valued at $44,775,000 after buying an additional 428,996 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Kestra Medical Technologies during 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.