Kestra Medical Technologies (NASDAQ:KMTS) Trading 5.4% Higher - Still a Buy?

Key Points

• Kestra Medical Technologies stock increased by 5.4%, reaching a last trading price of $23.90, a notable rise from its previous close of $22.68.
• Wells Fargo lowered its target price for the stock from $28.00 to $27.00, while five analysts maintain a Buy rating, indicating a general positive outlook.
• Institutional investments surged, with significant stakes acquired by firms like Yu Fan and T. Rowe Price, reflecting strong confidence in the company's performance.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report)'s stock price traded up 5.4% during mid-day trading on Tuesday . The stock traded as high as $24.07 and last traded at $23.90. 138,161 shares were traded during trading, a decline of 50% from the average session volume of 277,268 shares. The stock had previously closed at $22.68.

Analysts Set New Price Targets

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

Kestra Medical Technologies Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 6.72 and a quick ratio of 6.72. The company's 50 day simple moving average is $16.61.

Institutional Trading of Kestra Medical Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Yu Fan bought a new stake in shares of Kestra Medical Technologies during the 1st quarter valued at $56,880,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Kestra Medical Technologies during the 1st quarter valued at $56,613,000. Omega Fund Management LLC bought a new stake in shares of Kestra Medical Technologies during the 1st quarter valued at $44,754,000. Alliancebernstein L.P. increased its stake in Kestra Medical Technologies by 10.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,312,085 shares of the company's stock worth $21,754,000 after acquiring an additional 128,312 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its holdings in shares of Kestra Medical Technologies by 285.7% in the 2nd quarter. Eventide Asset Management LLC now owns 1,060,557 shares of the company's stock worth $17,584,000 after purchasing an additional 785,557 shares in the last quarter.

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.

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