Kestra Medical Technologies (NASDAQ:KMTS) Stock Falls 4.6% – Time to Sell?

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) traded down 4.6% during mid-day trading on Wednesday. The stock traded as low as $26.97 and last traded at $26.9850. Approximately 220,258 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 345,406 shares. The stock had previously closed at $28.28.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BTIG Research restated a “buy” rating and set a $32.00 target price on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Oppenheimer assumed coverage on Kestra Medical Technologies in a report on Tuesday, July 21st. They issued a “market perform” rating on the stock. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a research note on Wednesday, July 15th. Royal Bank Of Canada set a $30.00 price objective on Kestra Medical Technologies in a report on Tuesday, September 15th. Finally, Wall Street Zen downgraded Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Stock Performance

The stock’s 50-day moving average price is $26.42 and its 200 day moving average price is $23.79. 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 announced its quarterly earnings results on Monday, September 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.14). Kestra Medical Technologies had a negative net margin of 140.43% and a negative return on equity of 63.83%. The firm had revenue of $30.97 million during the quarter. Sell-side analysts anticipate that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insider Buying and Selling at Kestra Medical Technologies

In other news, Director Raymond W. Cohen sold 3,330 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $29.28, for a total transaction of $97,502.40. Following the transaction, the director owned 54,790 shares of the company’s stock, valued at approximately $1,604,251.20. This represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $29.56, for a total value of $443,400.00. Following the transaction, the insider directly owned 445,215 shares in the company, valued at $13,160,555.40. The trade was a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 361,928 shares of company stock worth $9,158,873 over the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Trading of Kestra Medical Technologies

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP grew its holdings in 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 acquiring an additional 44,839 shares in the last quarter. Sei Investments Co. increased its position in Kestra Medical Technologies by 22.6% during the 1st quarter. Sei Investments Co. now owns 237,116 shares of the company’s stock valued at $4,726,000 after purchasing an additional 43,753 shares during the period. Spartan Wealth Advisory Services LLC bought a new stake in shares of Kestra Medical Technologies in the 1st quarter valued at about $603,000. Bank of New York Mellon Corp raised its holdings in shares of Kestra Medical Technologies by 47.2% in 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 purchasing an additional 22,471 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Kestra Medical Technologies in the 1st quarter worth approximately $431,000.

Kestra Medical Technologies Company Profile

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.