BTIG Research Reaffirms "Buy" Rating for Kestra Medical Technologies (NASDAQ:KMTS)

Key Points

• BTIG Research reaffirmed its “Buy” rating on Kestra Medical Technologies and maintained a $32 price target, implying approximately 33% upside from the stock’s $24.06 opening price.
• Analyst sentiment is mixed overall: four analysts rate KMTS a Buy, two a Hold and one a Sell, resulting in a consensus “Hold” rating and an average target price of $28.14.
• Kestra reported quarterly revenue of $30.97 million but missed EPS expectations, posting a loss of $0.75 per share versus the expected $0.61 loss. The company remains unprofitable, with a negative net margin of 138.35%.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They currently have a $32.00 price target on the stock. BTIG Research's target price points to a potential upside of 33.00% from the company's current price.

A number of other analysts have also weighed in on KMTS. JPMorgan Chase & Co. initiated coverage on Kestra Medical Technologies in a research note on Monday, August 10th. They issued an "overweight" rating and a $30.00 target price for the company. Weiss Ratings downgraded shares of Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research 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. Wolfe Research set a $30.00 target price on shares of Kestra Medical Technologies in a research note on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Kestra Medical Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of "Hold" and a consensus target price of $28.14.

Kestra Medical Technologies Stock Performance

NASDAQ KMTS opened at $24.06 on Tuesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -9.94 and a beta of 0.62. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.16. Kestra Medical Technologies has a 1-year low of $17.34 and a 1-year high of $30.00. The company has a 50 day moving average of $25.26 and a 200-day moving average of $22.67.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last released its quarterly earnings results on Monday, September 14th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.14). Kestra Medical Technologies had a negative return on equity of 57.38% and a negative net margin of 138.35%.The business had revenue of $30.97 million for the quarter. On average, equities analysts forecast that Kestra Medical Technologies will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Timothy Moran sold 8,759 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $22.61, for a total value of $198,040.99. Following the transaction, the insider directly owned 68,725 shares in the company, valued at $1,553,872.25. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alfred Ford, Jr. sold 13,015 shares of the company's 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 sale, the insider owned 105,839 shares of the company's stock, valued at $2,529,552.10. This represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 239,588 shares of company stock worth $5,802,688 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP lifted its holdings in Kestra Medical Technologies by 284.2% during the second 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. California State Teachers Retirement System raised its holdings in Kestra Medical Technologies by 2,366.0% during the 2nd quarter. California State Teachers Retirement System now owns 686,422 shares of the company's stock worth $17,463,000 after buying an additional 658,587 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Kestra Medical Technologies by 6.6% in the first quarter. The Manufacturers Life Insurance Company now owns 92,515 shares of the company's stock valued at $1,844,000 after buying an additional 5,731 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Kestra Medical Technologies in the first quarter valued at approximately $431,000. Finally, Sei Investments Co. boosted its holdings in shares of Kestra Medical Technologies by 22.6% in the first quarter. Sei Investments Co. now owns 237,116 shares of the company's stock valued at $4,726,000 after buying an additional 43,753 shares during the period.

Kestra Medical Technologies Company Profile

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.

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