Kestra Medical Technologies (NASDAQ:KMTS) Trading 9.7% Higher – Here’s Why

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) shot up 9.7% during mid-day trading on Thursday . The company traded as high as $20.33 and last traded at $20.6460. 33,193 shares changed hands during trading, a decline of 89% from the average session volume of 315,223 shares. The stock had previously closed at $18.82.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KMTS. BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Kestra Medical Technologies in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a research note on Monday, March 23rd. Finally, The Goldman Sachs Group decreased their price target on 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. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.40.

Kestra Medical Technologies Trading Up 8.1%

The firm has a market capitalization of $1.19 billion, a P/E ratio of -5.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.32 and a current ratio of 7.32. The firm has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $23.36.

Kestra Medical Technologies (NASDAQ:KMTS) last released its quarterly earnings data 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 for the quarter. Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.Kestra Medical Technologies’s revenue for the quarter was up 62.7% compared to the same quarter last year. On average, equities research analysts expect that Kestra Medical Technologies, Ltd. will post -2.34 EPS for the current fiscal year.

Insider Buying and Selling at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $20.96, for a total transaction of $314,400.00. Following the completion of the sale, the insider directly owned 334,786 shares of the company’s stock, valued at $7,017,114.56. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 45,000 shares of company stock worth $919,050. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Kestra Medical Technologies

Several large investors have recently modified their holdings of KMTS. Millennium Management LLC bought a new stake in shares of Kestra Medical Technologies during the 1st quarter worth $11,036,000. Woodline Partners LP purchased a new stake in shares of Kestra Medical Technologies in the first quarter valued at $2,510,000. Jane Street Group LLC acquired a new stake in shares of Kestra Medical Technologies in the first quarter worth $756,000. Geode Capital Management LLC boosted its position in shares of Kestra Medical Technologies by 718.5% in the second quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock worth $5,395,000 after buying an additional 285,579 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Kestra Medical Technologies in the second quarter worth $256,000.

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.