Kestra Medical Technologies (NASDAQ:KMTS) Shares Gap Down – Here’s Why

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $21.82, but opened at $20.45. Kestra Medical Technologies shares last traded at $20.72, with a volume of 869 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on KMTS. BTIG Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Kestra Medical Technologies in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a report on Monday, March 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.40.

Kestra Medical Technologies Stock Performance

The firm’s 50 day moving average price is $20.69 and its 200-day moving average price is $23.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.32 and a current ratio of 7.32. The firm has a market capitalization of $1.24 billion, a PE ratio of -5.37 and a beta of 0.82.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.01). Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.The firm had revenue of $24.55 million for the quarter. The business’s revenue for the quarter was up 62.7% compared to the same quarter last year. On average, research analysts expect that Kestra Medical Technologies, Ltd. will post -2.34 EPS for the current year.

Insider Activity

In other news, insider Brian Daniel Webster sold 15,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $20.96, for a total transaction of $314,400.00. Following the sale, the insider directly owned 334,786 shares of the company’s stock, valued at $7,017,114.56. This represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 45,000 shares of company stock worth $919,050. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KMTS. Price T Rowe Associates Inc. MD raised its position in shares of Kestra Medical Technologies by 137.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,369,429 shares of the company’s stock worth $115,878,000 after purchasing an additional 2,529,851 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Kestra Medical Technologies by 180.8% in the fourth quarter. Franklin Resources Inc. now owns 951,008 shares of the company’s stock worth $25,221,000 after acquiring an additional 612,343 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Kestra Medical Technologies in the first quarter worth approximately $11,036,000. Brown Advisory Inc. boosted its stake in shares of Kestra Medical Technologies by 34.1% in the fourth quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock worth $44,775,000 after acquiring an additional 428,996 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new stake in shares of Kestra Medical Technologies in the fourth quarter worth approximately $9,282,000.

About Kestra Medical Technologies

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.