Kestra Medical Technologies (NASDAQ:KMTS) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Kestra Medical Technologies with an “overweight” rating and a $30 price target, implying 13.64% upside from the cited current price.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, two Hold, and one Sell, producing an overall “Hold” rating and an average price target of $28.14.
• Kestra reported a quarterly loss of $0.67 per share, worse than the $0.59 consensus estimate, on revenue of $28.64 million; analysts expect a full-year loss of $2.29 per share.

JPMorgan Chase & Co. began coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) in a research report issued on Monday,Benzinga reports. The firm set an "overweight" rating and a $30.00 price target on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.64% from the stock's current price.

Several other analysts have also recently weighed in on the stock. Wolfe Research set a $30.00 price objective on shares of Kestra Medical Technologies in a research note on Wednesday, July 15th. BTIG Research lifted their target price on Kestra Medical Technologies from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of Kestra Medical Technologies from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings lowered Kestra Medical Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 16th. Finally, Oppenheimer started coverage on shares of Kestra Medical Technologies in a research report on Tuesday, July 21st. They issued a "market perform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.14.

Kestra Medical Technologies Price Performance

Shares of Kestra Medical Technologies stock opened at $26.40 on Monday. The company has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $22.57. Kestra Medical Technologies has a twelve month low of $14.30 and a twelve month high of $30.00. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -10.91 and a beta of 0.58. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.16.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported ($0.67) 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 for the quarter. Analysts forecast that Kestra Medical Technologies will post -2.29 EPS for the current year.

Insider Activity at Kestra Medical Technologies

In other Kestra Medical Technologies news, insider Traci S. Umberger sold 3,580 shares of Kestra Medical Technologies stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.04, for a total value of $86,063.20. Following the completion of the sale, the insider owned 195,825 shares of the company's stock, valued at approximately $4,707,633. The trade was a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alfred J. Ford, Jr. sold 6,275 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.09, for a total value of $151,164.75. Following the completion of the transaction, the insider directly owned 99,564 shares in the company, valued at $2,398,496.76. The trade was a 5.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 211,877 shares of company stock worth $4,922,844 in the last ninety days. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kestra Medical Technologies

A number of hedge funds have recently modified their holdings of KMTS. Millennium Management LLC bought a new position in shares of Kestra Medical Technologies during the 1st quarter valued at approximately $11,036,000. Woodline Partners LP purchased a new stake in shares of Kestra Medical Technologies in the first quarter worth about $2,510,000. Jane Street Group LLC bought a new position in shares of Kestra Medical Technologies during the 1st quarter valued at approximately $756,000. Geode Capital Management LLC increased its holdings in shares of Kestra Medical Technologies by 718.5% in 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 during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Kestra Medical Technologies during the second quarter valued at 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.

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