Kestra Medical Technologies (NASDAQ:KMTS) Reaches New 52-Week High – What’s Next?

Shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $31.99 and last traded at $31.63, with a volume of 519,473 shares changing hands. The stock had previously closed at $29.55.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $30.00 price objective on Kestra Medical Technologies in a report on Tuesday, September 15th. Wall Street Zen lowered shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a report on Sunday, November 8th. JPMorgan Chase & Co. assumed coverage on shares of Kestra Medical Technologies in a research report on Monday, August 10th. They set an “overweight” rating and a $30.00 target price for the company. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Finally, Evercore started coverage on shares of Kestra Medical Technologies in a research note on Tuesday, October 20th. They set an “outperform” rating and a $34.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.00.

Kestra Medical Technologies Trading Up 0.8%

The company has a market capitalization of $1.72 billion, a P/E ratio of -10.80 and a beta of 0.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.69 and a quick ratio of 4.69. The business’s 50-day moving average price is $27.31 and its two-hundred day moving average price is $24.10.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings data on Monday, September 14th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.14). The firm had revenue of $30.97 million for the quarter. Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%. As a group, analysts forecast that Kestra Medical Technologies, Ltd. will post -2.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian Webster sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $29.56, for a total value of $443,400.00. Following the sale, the insider directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Conor Hanley sold 5,694 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.25, for a total transaction of $143,773.50. Following the transaction, the director owned 6,272 shares of the company’s stock, valued at $158,368. This trade represents a 47.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 266,456 shares of company stock worth $7,585,946. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kestra Medical Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in Kestra Medical Technologies by 352.1% during the third quarter. First Trust Advisors LP now owns 313,012 shares of the company’s stock worth $8,855,000 after acquiring an additional 243,775 shares during the period. Corient Private Wealth LP raised its stake in shares of Kestra Medical Technologies by 284.2% during the 2nd 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. boosted its holdings in shares of Kestra Medical Technologies by 22.6% in the 1st 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 during the last quarter. Spartan Wealth Advisory Services LLC purchased a new position in shares of Kestra Medical Technologies in the 1st quarter worth about $603,000. Finally, Bank of New York Mellon Corp grew its position 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 is a medical technology company focused on wearable solutions for people at risk of sudden cardiac arrest. Its products combine cardiac monitoring, treatment technology and digital services intended to support patients and their care teams. The company’s flagship product, the ASSURE wearable cardioverter defibrillator, continuously monitors a patient’s heart rhythm and can deliver a treatment shock if it detects a life-threatening arrhythmia. The system also provides alerts and supports remote sharing of patient data with clinicians.