Kestra Medical Technologies, Ltd. $KMTS Stock Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth increased its Kestra Medical Technologies stake by 284.2% in the second quarter, reaching 60,614 shares valued at approximately $1.54 million. Several other institutional investors also increased or initiated positions.
• KMTS was trading at $25.76, near its recent moving-average levels, but the company reported a quarterly loss of $0.75 per share, missing estimates by $0.14. Analysts expect a full-year loss of approximately $2.45 per share.
• Analyst sentiment is mixed, with four Buy ratings, two Holds, and one Sell; the consensus rating is Hold with a target price of $28.38. Insiders have sold about $5.9 million of stock over the past 90 days, primarily to cover tax obligations from vested equity awards.

Corient Private Wealth LP raised its stake in shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Free Report) by 284.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 60,614 shares of the company's stock after acquiring an additional 44,839 shares during the period. Corient Private Wealth LP owned approximately 0.10% of Kestra Medical Technologies worth $1,542,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its position in Kestra Medical Technologies by 34.1% during the fourth quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company's stock valued at $44,775,000 after purchasing an additional 428,996 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in shares of Kestra Medical Technologies in the fourth quarter worth $9,282,000. Next Century Growth Investors LLC increased its position in 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 valued at $12,354,000 after acquiring an additional 282,832 shares during the last quarter. Seven Grand Managers LLC bought a new position in Kestra Medical Technologies in the fourth quarter valued at about $2,652,000. Finally, Eventide Asset Management LLC boosted its position in Kestra Medical Technologies by 5.4% in the fourth quarter. Eventide Asset Management LLC now owns 1,269,651 shares of the company's stock worth $33,671,000 after purchasing an additional 65,288 shares during the last quarter.

Kestra Medical Technologies Trading Up 1.0%

Kestra Medical Technologies stock opened at $25.76 on Friday. The firm has a 50 day moving average of $25.17 and a 200 day moving average of $22.76. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -9.65 and a beta of 0.62. Kestra Medical Technologies, Ltd. has a 12-month low of $17.34 and a 12-month high of $30.00. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.33.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last issued its quarterly earnings results on Monday, September 14th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.14). The firm had revenue of $30.97 million for the quarter. Kestra Medical Technologies had a negative net margin of 140.43% and a negative return on equity of 63.83%. As a group, research analysts predict that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insider Activity

In related news, Director Elizabeth Kwo sold 4,010 shares of Kestra Medical Technologies stock in a transaction on Monday, September 21st. The shares were sold at an average price of $24.26, for a total transaction of $97,282.60. Following the transaction, the director owned 14,116 shares in the company, valued at approximately $342,454.16. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Conor Hanley sold 5,694 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.25, for a total transaction of $143,773.50. Following the completion of the transaction, the director directly owned 6,272 shares of the company's stock, valued at $158,368. This represents a 47.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 243,598 shares of company stock worth $5,899,971. 5.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KMTS has been the subject of several research reports. Oppenheimer began coverage on shares of Kestra Medical Technologies in a research report on Tuesday, July 21st. They set a "market perform" rating for the company. Weiss Ratings raised shares of Kestra Medical Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 16th. BTIG Research restated a "buy" rating and set a $32.00 target price on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Kestra Medical Technologies in a report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kestra Medical Technologies in a research report on Monday, August 10th. They issued an "overweight" rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.38.

Kestra Medical Technologies Profile

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies for patients at risk of sudden cardiac arrest. The company's primary product is the ASSURE wearable cardioverter defibrillator, a wearable system designed to continuously monitor a patient's heart rhythm and deliver an electrical shock when a life-threatening arrhythmia is detected.

The ASSURE system is intended to provide temporary protection for patients who may be at elevated risk of sudden cardiac death but are not yet candidates for, or are awaiting, an implantable cardioverter-defibrillator.

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.