Bain Capital Investors LLC Sells 1,846,887 Shares of Kestra Medical Technologies, Ltd. $KMTS

Key Points

• Bain Capital Investors LLC sold 1,846,887 shares of Kestra Medical Technologies in the fourth quarter, reducing its stake by 6.8% but still holding about 43.14% of the company.
• Insider selling also occurred, with Brian Daniel Webster selling 15,000 shares at $20.96 each, lowering his ownership by 4.29%.
• Kestra Medical Technologies missed quarterly EPS estimates by a penny even as revenue rose 62.7% year over year to $24.55 million; analysts currently have a consensus Hold rating with an average target price of $27.40.

Bain Capital Investors LLC trimmed its stake in shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Free Report) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,172,338 shares of the company's stock after selling 1,846,887 shares during the period. Kestra Medical Technologies makes up about 14.4% of Bain Capital Investors LLC's investment portfolio, making the stock its 3rd biggest position. Bain Capital Investors LLC owned approximately 43.14% of Kestra Medical Technologies worth $667,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of KMTS. Franklin Resources Inc. lifted its position in shares of 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 purchasing an additional 612,343 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Kestra Medical Technologies during the first quarter worth approximately $11,036,000. Brown Advisory Inc. lifted its position in shares of Kestra Medical Technologies by 34.1% during the fourth quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company's stock worth $44,775,000 after purchasing an additional 428,996 shares in the last quarter. Geode Capital Management LLC lifted its position 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 worth $5,395,000 after purchasing an additional 285,579 shares in the last quarter. Finally, Next Century Growth Investors LLC lifted its position in shares of Kestra Medical Technologies by 154.5% during the fourth quarter. Next Century Growth Investors LLC now owns 465,845 shares of the company's stock worth $12,354,000 after purchasing an additional 282,832 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Brian Daniel Webster sold 15,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $20.96, for a total value of $314,400.00. Following the transaction, the insider directly owned 334,786 shares in the company, valued at $7,017,114.56. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BTIG Research reiterated a "buy" rating and set a $32.00 target price on shares of Kestra Medical Technologies in a research report on Tuesday, April 7th. 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 on the stock in a research report on Thursday, April 9th. Finally, Weiss Ratings lowered shares of Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.40.

Kestra Medical Technologies Trading Down 5.8%

Shares of NASDAQ KMTS opened at $19.23 on Wednesday. The company's 50 day simple moving average is $20.70 and its 200 day simple moving average is $22.97. Kestra Medical Technologies, Ltd. has a fifty-two week low of $13.25 and a fifty-two week high of $30.00. The firm has a market capitalization of $1.12 billion, a P/E ratio of -4.86 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.32 and a quick ratio of 7.32.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.01). Kestra Medical Technologies had a negative net margin of 171.87% and a negative return on equity of 65.49%. The business had revenue of $24.55 million during the quarter. The company's revenue for the quarter was up 62.7% compared to the same quarter last year. On average, analysts predict that Kestra Medical Technologies, Ltd. will post -2.34 EPS for the current year.

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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