Kestra Medical Technologies (NASDAQ:KMTS) Shares Up 7.9% – Here’s What Happened

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price shot up 7.9% on Friday . The company traded as high as $22.36 and last traded at $23.2690. 2,228 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 319,030 shares. The stock had previously closed at $21.56.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Kestra Medical Technologies in a research note on Monday, March 23rd. BTIG Research reissued a “buy” rating and issued a $32.00 target price on shares of Kestra Medical Technologies in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a report 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.40.

Kestra Medical Technologies Stock Up 1.5%

The stock has a market capitalization of $1.28 billion, a P/E ratio of -5.56 and a beta of 0.82. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $20.52 and a 200 day moving average price of $23.72.

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

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $20.96, for a total value of $314,400.00. Following the completion of the sale, the insider directly owned 334,786 shares in the company, valued at $7,017,114.56. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 45,000 shares of company stock valued at $919,050 in the last three months. 3.60% of the stock is owned by insiders.

Institutional Trading of Kestra Medical Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Kestra Medical Technologies by 137.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,369,429 shares of the company’s stock worth $115,878,000 after acquiring an additional 2,529,851 shares during the last quarter. Franklin Resources Inc. boosted its stake in Kestra Medical Technologies by 180.8% during the fourth quarter. Franklin Resources Inc. now owns 951,008 shares of the company’s stock worth $25,221,000 after buying an additional 612,343 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Kestra Medical Technologies in the 1st quarter valued at $11,036,000. Brown Advisory Inc. lifted its stake in shares of Kestra Medical Technologies by 34.1% in the 4th quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock valued at $44,775,000 after purchasing an additional 428,996 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new stake in Kestra Medical Technologies in the 4th quarter valued at about $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.