Kestra Medical Technologies (NASDAQ:KMTS) Earns Buy Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Kestra Medical Technologies and set a $32 price target, implying 27.39% upside from the prior close.
• Analyst sentiment is mixed: four analysts rate the stock Buy, two Hold, and one Sell, resulting in a consensus Hold rating and $28.14 average price target.
• Kestra reported a quarterly loss of $0.67 per share, missing the $0.59 consensus estimate, while insiders sold approximately $5.7 million of stock over the past 90 days.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report)'s stock had its "buy" rating reissued by analysts at BTIG Research in a report issued on Wednesday, Benzinga reports. They currently have a $32.00 target price on the stock. BTIG Research's price objective suggests a potential upside of 27.39% from the stock's previous close.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Kestra Medical Technologies in a research note on Monday, August 10th. They set an "overweight" rating and a $30.00 price target on the stock. Weiss Ratings cut shares of Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. Oppenheimer started coverage on shares of Kestra Medical Technologies in a report on Tuesday, July 21st. They set a "market perform" rating on the stock. Wall Street Zen raised shares of Kestra Medical Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Wolfe Research set a $30.00 price target on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $28.14.

Kestra Medical Technologies Price Performance

KMTS opened at $25.12 on Wednesday. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.47 billion, a P/E ratio of -10.38 and a beta of 0.62. The stock has a 50-day moving average price of $25.42 and a 200-day moving average price of $22.79. Kestra Medical Technologies has a 12-month low of $15.42 and a 12-month high of $30.00.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.08). The firm had revenue of $28.64 million for the quarter. Kestra Medical Technologies had a negative net margin of 138.35% and a negative return on equity of 57.38%. Equities analysts predict that Kestra Medical Technologies will post -2.29 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Timothy P. Moran sold 2,380 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $23.76, for a total value of $56,548.80. Following the transaction, the insider owned 66,345 shares in the company, valued at approximately $1,576,357.20. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 3,580 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.04, for a total transaction of $86,063.20. Following the sale, the insider owned 195,825 shares of the company's stock, valued at $4,707,633. This represents a 1.80% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 238,164 shares of company stock valued at $5,700,952. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

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

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.

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