Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) Sees Large Growth in Short Interest

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 2,413,847 shares, an increase of 21.5% from the December 15th total of 1,986,266 shares. Based on an average daily volume of 347,089 shares, the short-interest ratio is presently 7.0 days. Currently, 4.3% of the shares of the company are short sold. Currently, 4.3% of the shares of the company are short sold. Based on an average daily volume of 347,089 shares, the short-interest ratio is presently 7.0 days.

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $26.59, for a total transaction of $398,850.00. Following the transaction, the insider directly owned 409,786 shares of the company’s stock, valued at approximately $10,896,209.74. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Traci S. Umberger sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $26.69, for a total value of $280,245.00. Following the completion of the sale, the insider owned 136,633 shares of the company’s stock, valued at approximately $3,646,734.77. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

Several large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Kestra Medical Technologies in the third quarter valued at approximately $48,000. BNP Paribas Financial Markets grew its holdings in Kestra Medical Technologies by 148.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,738 shares of the company’s stock worth $65,000 after acquiring an additional 1,638 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Kestra Medical Technologies by 26.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,104 shares of the company’s stock valued at $74,000 after acquiring an additional 656 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Kestra Medical Technologies during the second quarter valued at $54,000. Finally, New York State Common Retirement Fund bought a new position in shares of Kestra Medical Technologies during the second quarter valued at $93,000.

Kestra Medical Technologies Price Performance

Kestra Medical Technologies stock traded down $0.13 during mid-day trading on Monday, reaching $22.85. The company had a trading volume of 298,820 shares, compared to its average volume of 243,751. The business has a fifty day simple moving average of $25.63 and a 200 day simple moving average of $22.16. The company has a market cap of $1.33 billion and a P/E ratio of -7.21. Kestra Medical Technologies has a fifty-two week low of $13.25 and a fifty-two week high of $30.00. The company has a current ratio of 5.47, a quick ratio of 5.47 and a debt-to-equity ratio of 0.26.

Wall Street Analyst Weigh In

KMTS has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of Kestra Medical Technologies from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Wall Street Zen downgraded shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Wells Fargo & Company lifted their price objective on shares of Kestra Medical Technologies from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Stifel Nicolaus set a $30.00 price objective on shares of Kestra Medical Technologies in a research report on Friday, December 12th. Finally, The Goldman Sachs Group set a $24.00 target price on Kestra Medical Technologies in a report on Friday. Six 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Kestra Medical Technologies Company Profile

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.