Kestra Medical Technologies (NASDAQ:KMTS) Trading Down 5.6% - Time to Sell?

Key Points

• Kestra Medical Technologies (NASDAQ:KMTS) saw its stock price decline by 5.6%, with shares trading as low as $23.38 during intra-day trading.
• Analysts have adjusted their ratings, with Wall Street Zen upgrading the stock from "sell" to "hold," while Wells Fargo lowered its target price from $28.00 to $27.00.
• Several institutional investors have recently acquired stakes in Kestra, with Omega Fund Management LLC purchasing the largest stake valued at approximately $44.75 million in the first quarter.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report) dropped 5.6% during trading on Monday . The stock traded as low as $23.38 and last traded at $23.54. Approximately 59,364 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 284,697 shares. The stock had previously closed at $24.94.

Analyst Ratings Changes

KMTS has been the subject of several recent research reports. Wall Street Zen raised Kestra Medical Technologies from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company cut their target price on Kestra Medical Technologies from $28.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.33.

Kestra Medical Technologies Price Performance

The company has a current ratio of 6.84, a quick ratio of 6.84 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $17.53 and a two-hundred day moving average price of $20.02.

Hedge Funds Weigh In On Kestra Medical Technologies

Several institutional investors have recently bought and sold shares of KMTS. Brown Advisory Inc. acquired a new position in Kestra Medical Technologies in the 1st quarter valued at about $13,716,000. Caas Capital Management LP acquired a new position in Kestra Medical Technologies in the 1st quarter valued at about $1,470,000. Jennison Associates LLC purchased a new position in shares of Kestra Medical Technologies in the 1st quarter valued at about $1,869,000. TD Asset Management Inc purchased a new position in shares of Kestra Medical Technologies in the 1st quarter valued at about $2,306,000. Finally, Federated Hermes Inc. purchased a new position in shares of Kestra Medical Technologies in the 1st quarter valued at about $9,968,000.

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.