1,795,893 Shares in Kestra Medical Technologies, Ltd. $KMTS Bought by Omega Fund Management LLC

Key Points

• Omega Fund Management LLC has acquired 1,795,893 shares of Kestra Medical Technologies, valued at approximately $44.8 million, marking it as the firm's largest investment at 26.4% of its portfolio.
• Several significant investors have also recently taken positions in Kestra Medical Technologies, with T. Rowe Price Investment Management leading with a new investment worth about $56.6 million.
• Wells Fargo reduced its target price on Kestra Medical Technologies from $28.00 to $27.00 while maintaining an "overweight" rating, reflecting a consensus "Moderate Buy" rating among analysts.

Omega Fund Management LLC bought a new stake in shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,795,893 shares of the company's stock, valued at approximately $44,754,000. Kestra Medical Technologies comprises 26.4% of Omega Fund Management LLC's investment portfolio, making the stock its largest holding. Omega Fund Management LLC owned about 3.50% of Kestra Medical Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Kestra Medical Technologies during the first quarter valued at about $210,000. Russell Investments Group Ltd. acquired a new position in Kestra Medical Technologies in the 1st quarter worth approximately $457,000. Caas Capital Management LP purchased a new position in Kestra Medical Technologies during the 1st quarter worth approximately $1,470,000. Jennison Associates LLC acquired a new stake in Kestra Medical Technologies during the 1st quarter valued at $1,869,000. Finally, TD Asset Management Inc acquired a new stake in shares of Kestra Medical Technologies in the first quarter worth $2,306,000.

Kestra Medical Technologies Stock Performance

Shares of KMTS traded up $0.05 during mid-day trading on Tuesday, hitting $16.19. 530,579 shares of the company's stock were exchanged, compared to its average volume of 269,548. The firm's fifty day simple moving average is $16.24. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.20. Kestra Medical Technologies, Ltd. has a twelve month low of $13.25 and a twelve month high of $26.15.

Wall Street Analysts Forecast Growth

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