Eventide Asset Management LLC Invests $6.85 Million in Kestra Medical Technologies, Ltd. $KMTS

Key Points

• Eventide Asset Management LLC has purchased 275,000 shares of Kestra Medical Technologies, valued at approximately $6.85 million, representing a 0.54% ownership stake.
• Several large investors, including T. Rowe Price and Omega Fund Management, have also made significant investments in Kestra Medical Technologies during the first quarter, totaling over $130 million combined.
• Wells Fargo & Company has lowered its target price for Kestra Medical Technologies from $28.00 to $27.00, while the stock maintains a consensus rating of "Moderate Buy" from investment analysts.

Eventide Asset Management LLC bought a new position in Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 275,000 shares of the company's stock, valued at approximately $6,853,000. Eventide Asset Management LLC owned about 0.54% of Kestra Medical Technologies at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jennison Associates LLC bought a new stake in Kestra Medical Technologies during the 1st quarter worth approximately $1,869,000. Omega Fund Management LLC bought a new stake in Kestra Medical Technologies during the first quarter worth $44,754,000. Caas Capital Management LP purchased a new stake in Kestra Medical Technologies in the 1st quarter valued at $1,470,000. Invesco Ltd. bought a new position in Kestra Medical Technologies during the 1st quarter valued at $4,984,000. Finally, Brown Advisory Inc. purchased a new position in Kestra Medical Technologies during the 1st quarter worth $13,716,000.

Wall Street Analyst Weigh In

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

Kestra Medical Technologies Trading Up 0.1%

Shares of Kestra Medical Technologies stock traded up $0.01 during trading hours on Tuesday, hitting $17.87. 177,410 shares of the company's stock traded hands, compared to its average volume of 270,796. Kestra Medical Technologies, Ltd. has a 12-month low of $13.25 and a 12-month high of $26.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.72 and a quick ratio of 6.72. The stock's fifty day moving average is $16.18.

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.