Adage Capital Partners GP L.L.C. Invests $2.49 Million in Kestra Medical Technologies, Ltd. $KMTS

Adage Capital Partners GP L.L.C. bought a new position in Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company's stock, valued at approximately $2,492,000. Adage Capital Partners GP L.L.C. owned 0.19% of Kestra Medical Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC purchased a new position in Kestra Medical Technologies in the first quarter valued at about $1,869,000. Omega Fund Management LLC purchased a new position in Kestra Medical Technologies in the first quarter valued at about $44,754,000. Caas Capital Management LP purchased a new position in Kestra Medical Technologies in the first quarter valued at about $1,470,000. Invesco Ltd. purchased a new position in Kestra Medical Technologies in the first quarter valued at about $4,984,000. Finally, Brown Advisory Inc. purchased a new position in Kestra Medical Technologies in the first quarter valued at about $13,716,000.

Kestra Medical Technologies Trading Up 18.6%

NASDAQ:KMTS traded up $3.43 during trading hours on Friday, reaching $21.83. 807,875 shares of the stock were exchanged, compared to its average volume of 227,238. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.20. The company's 50 day moving average is $16.45. Kestra Medical Technologies, Ltd. has a 52 week low of $13.25 and a 52 week high of $26.15.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price target on Kestra Medical Technologies from $28.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $27.33.

Kestra Medical Technologies Profile

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.