Kestra Medical Technologies, Ltd.'s Lock-Up Period Will End on September 2nd (NASDAQ:KMTS)

Key Points

• Kestra Medical Technologies' lock-up period will expire on September 2nd, allowing insiders to sell their shares after its IPO which raised approximately $202 million.
• Wells Fargo has lowered its price target for Kestra's shares from $28.00 to $27.00, while maintaining an "overweight" rating, indicating a generally favorable outlook despite the revision.
• Large investors have significantly increased their stakes in Kestra Medical Technologies, with notable acquisitions during the first and second quarters totaling over $56 million from notable funds.

Kestra Medical Technologies' (NASDAQ:KMTS - Get Free Report) lock-up period is set to expire on Tuesday, September 2nd. Kestra Medical Technologies had issued 11,882,352 shares in its initial public offering on March 6th. The total size of the offering was $201,999,984 based on an initial share price of $17.00. After the end of Kestra Medical Technologies' lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their target price on Kestra Medical Technologies from $28.00 to $27.00 and set an "overweight" rating on the stock in a 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.33.

Kestra Medical Technologies Stock Down 2.9%

Shares of NASDAQ:KMTS traded down $0.53 during trading on Wednesday, hitting $18.00. 146,111 shares of the company were exchanged, compared to its average volume of 211,608. Kestra Medical Technologies has a fifty-two week low of $13.25 and a fifty-two week high of $26.15. The firm has a fifty day simple moving average of $16.17. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Kestra Medical Technologies during the 1st quarter worth approximately $33,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Kestra Medical Technologies during the 2nd quarter worth approximately $54,000. Russell Investments Group Ltd. boosted its stake in Kestra Medical Technologies by 26.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 23,202 shares of the company's stock valued at $385,000 after purchasing an additional 4,859 shares during the period. New York State Common Retirement Fund bought a new stake in Kestra Medical Technologies in the 2nd quarter valued at $93,000. Finally, Virtu Financial LLC bought a new stake in Kestra Medical Technologies in the 1st quarter valued at $210,000.

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.