Kestra Medical Technologies (NASDAQ:KMTS) Stock Bumped Down to “Sell” by Wall Street Zen

Wall Street Zen cut shares of Kestra Medical Technologies (NASDAQ:KMTS) from a hold rating to a sell rating in a research note released on Sunday,Wall Street Zen reports.

Several other analysts have also issued reports on the stock. Piper Sandler reissued an “overweight” rating on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Royal Bank Of Canada set a $30.00 price objective on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. Oppenheimer assumed coverage on shares of Kestra Medical Technologies in a report on Tuesday, July 21st. They set a “market perform” rating on the stock. JPMorgan Chase & Co. initiated coverage on Kestra Medical Technologies in a research report on Monday, August 10th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Evercore initiated coverage on Kestra Medical Technologies in a report on Tuesday, October 20th. They issued an “outperform” rating and a $34.00 price target for the company. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Kestra Medical Technologies Stock Performance

Shares of Kestra Medical Technologies stock opened at $28.80 on Friday. Kestra Medical Technologies has a 52-week low of $17.34 and a 52-week high of $31.91. The stock’s 50-day simple moving average is $26.96 and its 200 day simple moving average is $23.99. The stock has a market capitalization of $1.72 billion, a P/E ratio of -10.79 and a beta of 0.45. 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) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.14). The business had revenue of $30.97 million for the quarter. Kestra Medical Technologies had a negative net margin of 140.43% and a negative return on equity of 63.83%. As a group, research analysts anticipate that Kestra Medical Technologies will post -2.45 EPS for the current year.

Insider Transactions at Kestra Medical Technologies

In other news, insider Timothy Moran sold 3,192 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $29.56, for a total value of $94,355.52. Following the sale, the insider directly owned 63,153 shares of the company’s stock, valued at approximately $1,866,802.68. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, insider Brian Webster sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $29.56, for a total transaction of $443,400.00. Following the completion of the transaction, the insider owned 445,215 shares of the company’s stock, valued at $13,160,555.40. This trade represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 266,456 shares of company stock valued at $7,585,946. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Corient Private Wealth LP increased its holdings in shares of Kestra Medical Technologies by 284.2% in the second 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 during the period. Sei Investments Co. raised its position 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 buying an additional 43,753 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in Kestra Medical Technologies during the first quarter valued at $603,000. Quantinno Capital Management LP bought a new stake in Kestra Medical Technologies during the first quarter valued at $431,000. Finally, Bank of New York Mellon Corp boosted its stake in Kestra Medical Technologies by 47.2% during the first quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock valued at $1,397,000 after buying an additional 22,471 shares during the period.

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.