Kestra Medical Technologies (NASDAQ:KMTS) Shares Gap Up - Should You Buy?

Key Points

• Kestra Medical Technologies shares gapped up, opening at $20.00 after a previous close of $18.40, currently trading at $19.42 with a volume of 46,482 shares.
• Wells Fargo & Company lowered their price target for the stock from $28.00 to $27.00 while maintaining an "overweight" rating; analysts consensus still indicates a "Moderate Buy" with a price target of $27.33.
• Notable institutional investments include significant new positions from various hedge funds, with Omega Fund Management LLC investing approximately $44.8 million during the first quarter.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $18.40, but opened at $20.00. Kestra Medical Technologies shares last traded at $19.42, with a volume of 46,482 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their price objective on Kestra Medical Technologies from $28.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.33.

Kestra Medical Technologies Trading Up 5.0%

The stock's fifty day moving average price is $16.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.84 and a quick ratio of 6.72.

Institutional Investors Weigh In On Kestra Medical Technologies

Several institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Kestra Medical Technologies during the 1st quarter valued at about $33,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Kestra Medical Technologies in the 2nd quarter worth approximately $54,000. Russell Investments Group Ltd. lifted its holdings 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 worth $385,000 after buying an additional 4,859 shares during the period. New York State Common Retirement Fund purchased a new stake in Kestra Medical Technologies in the 2nd quarter worth approximately $93,000. Finally, Virtu Financial LLC purchased a new stake in Kestra Medical Technologies in the 1st quarter worth approximately $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.