Kestra Medical Technologies (NASDAQ:KMTS) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Kestra Medical Technologies from “hold” to “sell,” though the broader analyst consensus remains “Moderate Buy,” with an average price target of $29.
• Kestra reported a quarterly loss of $0.75 per share, missing the $0.61 loss analysts expected; revenue was $30.97 million, and analysts forecast a full-year loss of $2.45 per share.
• Company insiders sold 266,456 shares worth about $7.6 million over the past three months. The stock opened at $28.80, within its 12-month range of $17.34 to $31.91.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday, Wall Street Zen reports.

Several other research analysts have also commented on the company. Piper Sandler reissued an "overweight" rating on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Royal Bank Of Canada set a $30.00 target price on Kestra Medical Technologies in a research report on Tuesday, September 15th. Oppenheimer began coverage on Kestra Medical Technologies in a research report on Tuesday, July 21st. They issued a "market perform" rating for the company. 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. Finally, BTIG Research reiterated a "buy" rating and set a $32.00 target price on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.00.

Kestra Medical Technologies Stock Performance

Shares of Kestra Medical Technologies stock opened at $28.80 on Friday. Kestra Medical Technologies has a 12 month low of $17.34 and a 12 month high of $31.91. The firm's fifty day simple moving average is $26.96 and its 200-day simple moving average is $23.99. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -10.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.69 and a quick ratio of 4.69.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last issued its 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 net margin of 140.43% and a negative return on equity of 63.83%. The business had revenue of $30.97 million during the quarter. As a group, equities analysts forecast that Kestra Medical Technologies will post -2.45 earnings per share for the current year.

Insider Transactions at Kestra Medical Technologies

In other news, insider Traci S. Umberger sold 100,000 shares of the firm's stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $27.18, for a total transaction of $2,718,000.00. Following the completion of the sale, the insider directly owned 195,825 shares in the company, valued at $5,322,523.50. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth Kwo sold 4,010 shares of Kestra Medical Technologies stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $24.26, for a total value of $97,282.60. Following the sale, the director directly owned 14,116 shares in the company, valued at approximately $342,454.16. The trade was a 22.12% 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. Insiders have sold a total of 266,456 shares of company stock worth $7,585,946 over the last three months. Insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Kestra Medical Technologies in the 3rd quarter valued at approximately $353,000. Sterling Capital Management LLC grew its position in shares of Kestra Medical Technologies by 834.0% during the third quarter. Sterling Capital Management LLC now owns 878 shares of the company's stock worth $25,000 after buying an additional 784 shares in the last quarter. Corient Private Wealth LP grew its position in shares of 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 buying an additional 44,839 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Kestra Medical Technologies by 39.2% during the first quarter. California State Teachers Retirement System now owns 27,835 shares of the company's stock worth $555,000 after buying an additional 7,844 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of 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 worth $1,844,000 after buying an additional 5,731 shares during the last quarter.

About Kestra Medical Technologies

Kestra Medical Technologies, Inc is a medical technology company focused on developing and commercializing wearable solutions for patients at risk of sudden cardiac arrest. Its primary product is the ASSURE wearable cardioverter defibrillator, a wearable device designed to continuously monitor a patient's heart rhythm and deliver a therapeutic shock when clinically necessary.

The company's platform combines cardiac monitoring, arrhythmia detection and defibrillation capabilities in a wearable system intended for use outside the hospital.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.