Kestra Medical Technologies’ (KMTS) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Kestra Medical Technologies (NASDAQ:KMTS) in a research report sent to investors on Tuesday morning,Benzinga reports. BTIG Research currently has a $32.00 price target on the stock.

KMTS has been the subject of several other research reports. Wolfe Research set a $30.00 price objective on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. Oppenheimer initiated coverage on shares of Kestra Medical Technologies in a research report on Tuesday, July 21st. They issued a “market perform” rating for the company. Wall Street Zen lowered shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Kestra Medical Technologies in a research report on Monday, August 10th. They set an “overweight” rating and a $30.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kestra Medical Technologies has an average rating of “Hold” and a consensus target price of $28.38.

Kestra Medical Technologies Stock Up 1.1%

NASDAQ KMTS opened at $24.35 on Tuesday. The company has a current ratio of 4.69, a quick ratio of 4.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -9.12 and a beta of 0.62. The company has a 50 day moving average of $25.11 and a 200-day moving average of $22.67. Kestra Medical Technologies has a 1-year low of $17.34 and a 1-year high of $30.00.

Kestra Medical Technologies (NASDAQ:KMTS) last released its earnings results on Monday, September 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter. On average, equities research analysts expect that Kestra Medical Technologies will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Kestra Medical Technologies

In other news, insider Brian Webster sold 51,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.52, for a total value of $1,272,588.00. Following the sale, the insider directly owned 475,215 shares in the company, valued at approximately $11,652,271.80. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Traci S. Umberger sold 8,752 shares of Kestra Medical Technologies stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $22.60, for a total transaction of $197,795.20. Following the sale, the insider directly owned 206,995 shares in the company, valued at $4,678,087. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 239,588 shares of company stock valued at $5,802,688. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP bought a new stake in shares of Kestra Medical Technologies during the first quarter worth $431,000. California State Teachers Retirement System lifted its stake in shares of Kestra Medical Technologies by 39.2% in the 1st quarter. California State Teachers Retirement System now owns 27,835 shares of the company’s stock valued at $555,000 after acquiring an additional 7,844 shares during the last quarter. Spartan Wealth Advisory Services LLC acquired a new stake in shares of Kestra Medical Technologies during the 1st quarter valued at $603,000. Corient Private Wealth LP grew its position 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in 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 worth $1,397,000 after purchasing an additional 22,471 shares in the last quarter.

About Kestra Medical Technologies

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies for patients at risk of sudden cardiac arrest. The company’s primary product is the ASSURE wearable cardioverter defibrillator, a wearable system designed to continuously monitor a patient’s heart rhythm and deliver an electrical shock when a life-threatening arrhythmia is detected.

The ASSURE system is intended to provide temporary protection for patients who may be at elevated risk of sudden cardiac death but are not yet candidates for, or are awaiting, an implantable cardioverter-defibrillator.