Kestra Medical Technologies (NASDAQ:KMTS) Insider Sells 13,015 Shares of Stock

Key Points

• Insider sale: Alfred Ford, Jr. sold 13,015 Kestra Medical Technologies shares for approximately $311,059, reducing his ownership by 10.95%. The filing said the sale covered tax-withholding obligations tied to vested equity awards.
• Financial performance: Kestra reported quarterly revenue of $28.64 million but missed the consensus loss estimate, posting a loss of $0.67 per share versus expectations of $0.59. Analysts forecast a full-year loss of $2.29 per share.
• Mixed analyst outlook: The stock has an overall “Hold” rating and a consensus price target of $27.83, with recent targets ranging from $17 to $32. KMTS recently traded near $23.99, while institutional investors including Millennium Management and Geode Capital increased or initiated positions.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report) insider Alfred Ford, Jr. sold 13,015 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $23.90, for a total value of $311,058.50. Following the transaction, the insider owned 105,839 shares in the company, valued at $2,529,552.10. This trade represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kestra Medical Technologies Stock Performance

Shares of NASDAQ:KMTS traded up $1.16 on Monday, reaching $23.99. 373,728 shares of the company's stock were exchanged, compared to its average volume of 404,856. Kestra Medical Technologies, Ltd. has a fifty-two week low of $14.10 and a fifty-two week high of $30.00. The business's 50-day moving average is $22.62 and its two-hundred day moving average is $22.48. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.91 and a beta of 0.58.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.08). The business had revenue of $28.64 million for the quarter. Kestra Medical Technologies had a negative net margin of 138.35% and a negative return on equity of 57.38%. As a group, equities research analysts forecast that Kestra Medical Technologies, Ltd. will post -2.29 EPS for the current year.

Analysts Set New Price Targets

KMTS has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Kestra Medical Technologies from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 16th. BTIG Research boosted their target price on shares of Kestra Medical Technologies from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Wolfe Research set a $30.00 price target on shares of Kestra Medical Technologies in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut Kestra Medical Technologies from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC acquired a new position in shares of Kestra Medical Technologies during the first quarter valued at $11,036,000. Woodline Partners LP acquired a new position in Kestra Medical Technologies during the 1st quarter valued at about $2,510,000. Jane Street Group LLC acquired a new position in Kestra Medical Technologies during the 1st quarter valued at about $756,000. Geode Capital Management LLC raised its position in shares of Kestra Medical Technologies by 718.5% during the 2nd quarter. Geode Capital Management LLC now owns 325,326 shares of the company's stock worth $5,395,000 after buying an additional 285,579 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Kestra Medical Technologies in the 2nd quarter worth approximately $256,000.

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. 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.