Evercore Begins Coverage on Kestra Medical Technologies (NASDAQ:KMTS)

Evercore initiated coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS) in a research note issued on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $34.00 price target on the stock. Evercore’s price objective points to a potential upside of 15.76% from the company’s previous close.

A number of other analysts have also commented on the company. Wall Street Zen lowered Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings upgraded Kestra Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Wolfe Research set a $30.00 price objective on Kestra Medical Technologies in a research note on Wednesday, July 15th. Oppenheimer started coverage on Kestra Medical Technologies in a research note on Tuesday, July 21st. They issued a “market perform” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Kestra Medical Technologies Stock Performance

NASDAQ KMTS opened at $29.37 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.69 and a quick ratio of 4.69. Kestra Medical Technologies has a twelve month low of $17.34 and a twelve month high of $30.00. The business’s fifty day moving average is $26.41 and its 200 day moving average is $23.62.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its quarterly earnings data on Monday, September 14th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $30.97 million for the quarter. Equities analysts predict that Kestra Medical Technologies will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kevin C. Reilly sold 2,932 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.13, for a total transaction of $73,681.16. Following the completion of the transaction, the director directly owned 5,368 shares of the company’s stock, valued at $134,897.84. This trade represents a 35.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Conor Hanley sold 5,694 shares of Kestra Medical Technologies stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $25.25, for a total value of $143,773.50. Following the transaction, the director directly owned 6,272 shares in the company, valued at $158,368. The trade was a 47.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 246,928 shares of company stock valued at $5,997,473 over the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kestra Medical Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of Kestra Medical Technologies by 22.6% in the first 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 boosted its holdings 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 valued at $1,844,000 after acquiring an additional 5,731 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 valued at $1,397,000 after purchasing an additional 22,471 shares during the period. Corient Private Wealth LP increased its position in Kestra Medical Technologies by 284.2% during the 2nd quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock valued at $1,542,000 after purchasing an additional 44,839 shares during the period. Finally, Spartan Wealth Advisory Services LLC acquired a new stake in Kestra Medical Technologies during the 1st quarter valued at approximately $603,000.

Kestra Medical Technologies Company Profile

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies designed to help protect patients at risk of sudden cardiac arrest. The company’s primary product is the ASSURE wearable cardioverter defibrillator, or WCD, which is intended to provide temporary protection for patients who may be at elevated risk of life-threatening ventricular arrhythmias.

The ASSURE system continuously monitors a patient’s heart rhythm and is designed to detect potentially dangerous arrhythmias, including ventricular tachycardia and ventricular fibrillation.