Kestra Medical Technologies (NASDAQ:KMTS) Coverage Initiated at Oppenheimer

Key Points

• Oppenheimer initiated coverage of Kestra Medical Technologies with a “market perform” rating, while the broader analyst view remains mixed but overall Hold-leaning with an average price target of $27.83.
• The stock was down 4.8% and traded at $23.24, after the company’s latest earnings missed expectations with EPS of -$0.67 versus estimates of -$0.59.
• Insider and institutional activity was active: Brian Daniel Webster sold 15,000 shares, while several hedge funds increased their stakes in the company.

Research analysts at Oppenheimer assumed coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a "market perform" rating on the stock.

Several other brokerages have also issued reports on KMTS. Wolfe Research set a $30.00 target price on Kestra Medical Technologies in a research report on Wednesday, July 15th. Wall Street Zen lowered Kestra Medical Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings cut Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Kestra Medical Technologies from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Finally, BTIG Research upped their target price on shares of Kestra Medical Technologies from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kestra Medical Technologies presently has a consensus rating of "Hold" and an average target price of $27.83.

Kestra Medical Technologies Trading Down 4.8%

Shares of KMTS opened at $23.24 on Tuesday. Kestra Medical Technologies has a 1-year low of $14.10 and a 1-year high of $30.00. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average price is $22.31 and its 200-day moving average price is $22.66. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.60 and a beta of 0.47.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.08). Kestra Medical Technologies had a negative return on equity of 57.38% and a negative net margin of 138.35%.The company had revenue of $28.64 million during the quarter. Sell-side analysts anticipate that Kestra Medical Technologies will post -2.3 EPS for the current year.

Insider Activity

In other news, insider Brian Daniel Webster sold 15,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.81, for a total transaction of $312,150.00. Following the transaction, the insider directly owned 395,467 shares of the company's stock, valued at $8,229,668.27. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Kestra Medical Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in shares of Kestra Medical Technologies by 43.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,563 shares of the company's stock valued at $41,000 after acquiring an additional 474 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Kestra Medical Technologies by 26.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,104 shares of the company's stock worth $74,000 after purchasing an additional 656 shares during the period. Rhumbline Advisers raised its holdings in Kestra Medical Technologies by 7.3% in the 3rd quarter. Rhumbline Advisers now owns 12,925 shares of the company's stock worth $307,000 after purchasing an additional 874 shares during the period. Farther Finance Advisors LLC purchased a new position in Kestra Medical Technologies during the fourth quarter valued at $31,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Kestra Medical Technologies by 34.6% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,420 shares of the company's stock valued at $144,000 after purchasing an additional 1,392 shares during the period.

Kestra Medical Technologies Company 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. 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.

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.