Kestra Medical Technologies (NASDAQ:KMTS) Insider Alfred Ford, Jr. Sells 13,015 Shares of Stock

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) insider Alfred Ford, Jr. sold 13,015 shares of Kestra Medical Technologies stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $23.90, for a total value of $311,058.50. Following the completion of the transaction, the insider directly owned 105,839 shares of the company’s stock, valued at $2,529,552.10. This represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kestra Medical Technologies Stock Up 5.1%

Shares of NASDAQ:KMTS opened at $23.99 on Tuesday. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.41 billion, a P/E ratio of -9.91 and a beta of 0.58. Kestra Medical Technologies, Ltd. has a 12 month low of $14.10 and a 12 month high of $30.00. The company’s 50-day moving average price is $22.62 and its two-hundred day moving average price is $22.48.

Kestra Medical Technologies (NASDAQ:KMTS) last announced its earnings results on Tuesday, July 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.08). Kestra Medical Technologies had a negative return on equity of 57.38% and a negative net margin of 138.35%.The company had revenue of $28.64 million for the quarter. As a group, research analysts forecast that Kestra Medical Technologies, Ltd. will post -2.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Kestra Medical Technologies

Several hedge funds have recently bought and sold shares of KMTS. Millennium Management LLC bought a new position in shares of Kestra Medical Technologies during the first quarter worth $11,036,000. Woodline Partners LP bought a new stake in shares of Kestra Medical Technologies in the 1st quarter valued at $2,510,000. Jane Street Group LLC acquired a new stake in Kestra Medical Technologies during the 1st quarter worth $756,000. Geode Capital Management LLC lifted its holdings in Kestra Medical Technologies by 718.5% during the second quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock worth $5,395,000 after acquiring an additional 285,579 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Kestra Medical Technologies during the second quarter worth about $256,000.

Trending Headlines about Kestra Medical Technologies

Here are the key news stories impacting Kestra Medical Technologies this week:

• Neutral Sentiment: Multiple executives, including CFO Vaseem Mahboob and insiders Brian Daniel Webster, Traci S. Umberger, Alfred J. Ford Jr. and Timothy P. Moran, sold shares between July 30 and August 3. The transactions totaled approximately 103,000 shares and more than $2.3 million at prices near $22.60–$23.92. Each filing states that the sales were made to cover tax-withholding obligations tied to vested equity awards, rather than for discretionary investment purposes. SEC insider transaction filings
• Negative Sentiment: The breadth of the selling—including transactions by the CFO and several other insiders—could weigh on sentiment because it reduces management ownership and creates a perception of insider selling pressure. However, the relatively small percentage reductions in most positions and the disclosed tax-related purpose make the signal less bearish than open-market sales based on an expectation of weaker business performance.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMTS. The Goldman Sachs Group dropped their target price on Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a report on Wednesday, July 15th. Wall Street Zen lowered Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Oppenheimer assumed coverage on Kestra Medical Technologies in a report on Tuesday, July 21st. They set a “market perform” rating for the company. Finally, BTIG Research raised their target price on shares of Kestra Medical Technologies from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.83.

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.