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

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) shares gapped up prior to trading on Friday. The stock had previously closed at $25.47, but opened at $28.71. Kestra Medical Technologies shares last traded at $28.5050, with a volume of 11,352 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on KMTS. Piper Sandler reiterated 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 target on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. BTIG Research reiterated a “buy” rating and issued a $32.00 price target on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a report on Wednesday, July 15th. Finally, Wall Street Zen cut Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.38.

Kestra Medical Technologies Price Performance

The stock has a 50-day moving average of $26.37 and a two-hundred day moving average of $23.49. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -10.51 and a beta of 0.51.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings results 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 company had revenue of $30.97 million during the quarter. On average, analysts anticipate that Kestra Medical Technologies, Ltd. will post -2.45 EPS for the current year.

Insider Buying and Selling at Kestra Medical Technologies

In related news, Director Raymond W. Cohen sold 3,330 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $29.28, for a total transaction of $97,502.40. Following the sale, the director directly owned 54,790 shares in the company, valued at $1,604,251.20. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kevin C. Reilly sold 2,932 shares of the business’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 transaction, the director owned 5,368 shares in the company, valued at approximately $134,897.84. The trade was a 35.33% 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. Insiders sold 246,928 shares of company stock valued at $5,997,473 over the last three months. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP grew its holdings in Kestra Medical Technologies by 284.2% during the second 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. Sei Investments Co. raised its stake in 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 position in shares of Kestra Medical Technologies during the first quarter valued at approximately $603,000. Quantinno Capital Management LP bought a new position in Kestra Medical Technologies in the 1st quarter valued at approximately $431,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 22,471 shares during the period.

About Kestra Medical Technologies

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.