Kestra Medical Technologies (NASDAQ:KMTS) Shares Climb 5.7% - Here's What Happened

Key Points

• Kestra Medical Technologies shares rose 5.7% to about $27.23, although trading volume was 68% below the stock’s average daily volume.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, two rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $28.38.
• The company reported a quarterly loss of $0.75 per share, missing expectations by $0.14, on revenue of $30.97 million; analysts project a full-year loss of $2.45 per share.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report)'s stock price rose 5.7% during trading on Friday. The company traded as high as $27.18 and last traded at $27.2250. 109,545 shares changed hands during trading, a decline of 68% from the average daily volume of 342,964 shares. The stock had previously closed at $25.76.

Analyst Upgrades and Downgrades

KMTS has been the topic of several recent research reports. Piper Sandler reissued an "overweight" rating on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. Royal Bank Of Canada set a $30.00 target price on Kestra Medical Technologies in a research report on Tuesday, September 15th. BTIG Research restated a "buy" rating and issued a $32.00 target price on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. Oppenheimer started coverage on Kestra Medical Technologies in a research report on Tuesday, July 21st. They set a "market perform" rating for the company. Finally, Weiss Ratings upgraded shares of Kestra Medical Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 16th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Kestra Medical Technologies currently has an average rating of "Hold" and a consensus target price of $28.38.

Kestra Medical Technologies Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 4.69 and a quick ratio of 4.69. The stock has a 50-day moving average price of $25.17 and a 200-day moving average price of $22.76. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -10.17 and a beta of 0.62.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last issued its quarterly earnings data on Monday, September 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.14). Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%.The firm had revenue of $30.97 million for the quarter. As a group, analysts forecast that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insider Buying and Selling at Kestra Medical Technologies

In other Kestra Medical Technologies news, Director Jeffrey Schwartz sold 3,890 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.18, for a total transaction of $97,950.20. Following the completion of the sale, the director directly owned 7,019 shares in the company, valued at $176,738.42. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth Kwo sold 4,010 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $24.26, for a total value of $97,282.60. Following the completion of the sale, the director directly owned 14,116 shares in the company, valued at $342,454.16. This trade represents a 22.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 243,598 shares of company stock valued at $5,899,971 over the last ninety days. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KMTS. Corient Private Wealth LP increased its position in Kestra Medical Technologies by 284.2% in the 2nd quarter. Corient Private Wealth LP now owns 60,614 shares of the company's stock valued at $1,542,000 after acquiring an additional 44,839 shares during the period. California State Teachers Retirement System lifted its holdings in Kestra Medical Technologies by 39.2% during the 1st quarter. California State Teachers Retirement System now owns 27,835 shares of the company's stock worth $555,000 after buying an additional 7,844 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Kestra Medical Technologies by 6.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 92,515 shares of the company's stock worth $1,844,000 after buying an additional 5,731 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Kestra Medical Technologies in the first quarter valued at about $431,000. Finally, Sei Investments Co. increased its stake in shares of Kestra Medical Technologies by 22.6% in the first quarter. Sei Investments Co. now owns 237,116 shares of the company's stock valued at $4,726,000 after buying an additional 43,753 shares during the period.

Kestra Medical Technologies Company Profile

Kestra Medical Technologies, Inc is a medical device company focused on developing and commercializing technologies for patients at risk of sudden cardiac arrest. The company's primary product is the ASSURE wearable cardioverter defibrillator, a wearable system designed to continuously monitor a patient's heart rhythm and deliver an electrical shock when a life-threatening arrhythmia is detected.

The ASSURE system is intended to provide temporary protection for patients who may be at elevated risk of sudden cardiac death but are not yet candidates for, or are awaiting, an implantable cardioverter-defibrillator.

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