Kestra Medical Technologies (NASDAQ:KMTS) Shares Down 4.6% - Here's What Happened

Key Points

• Kestra Medical Technologies shares fell 4.6% to approximately $26.99 in mid-day trading, with volume about 36% below the average session level.
• Analyst sentiment remains generally positive: five analysts rate the stock a Buy, two Hold, and one Sell, producing a “Moderate Buy” consensus and a $29 average price target. Evercore initiated coverage with an Outperform rating and a $34 target.
• The company reported a larger-than-expected quarterly loss of $0.75 per share versus the $0.61 consensus estimate, alongside $30.97 million in revenue. Insiders sold about 246,928 shares worth nearly $6 million over the past 90 days.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report)'s share price fell 4.6% on Wednesday. The stock traded as low as $26.97 and last traded at $26.9850. Approximately 220,258 shares were traded during mid-day trading, a decline of 36% from the average session volume of 345,406 shares. The stock had previously closed at $28.28.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore initiated coverage on shares of Kestra Medical Technologies in a report on Tuesday. They issued an "outperform" rating and a $34.00 price objective on the stock. Wall Street Zen downgraded Kestra Medical Technologies from a "hold" rating to a "sell" rating in a report on Saturday, September 12th. Weiss Ratings upgraded Kestra Medical Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 16th. Wolfe Research set a $30.00 price target on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. began coverage on Kestra Medical Technologies in a research note on Monday, August 10th. They set an "overweight" rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kestra Medical Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Kestra Medical Technologies Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.69 and a current ratio of 4.69. The firm has a market cap of $1.61 billion, a P/E ratio of -10.14 and a beta of 0.51. The company's 50 day moving average is $26.42 and its 200 day moving average is $23.68.

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 for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.14). The firm had revenue of $30.97 million for the quarter. Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%. As a group, equities analysts predict that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current fiscal year.

Insider Transactions at Kestra Medical Technologies

In other Kestra Medical Technologies news, CFO Vaseem Mahboob sold 26,287 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $25.88, for a total value of $680,307.56. Following the completion of the transaction, the chief financial officer directly owned 60,609 shares in the company, valued at approximately $1,568,560.92. This represents a 30.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Webster sold 51,900 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.52, for a total transaction of $1,272,588.00. Following the transaction, the insider directly owned 475,215 shares of the company's stock, valued at $11,652,271.80. The trade was a 9.85% decrease in their position. 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. In the last 90 days, insiders sold 246,928 shares of company stock worth $5,997,473. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KMTS. 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. The Manufacturers Life Insurance Company raised its position in shares of Kestra Medical Technologies by 6.6% during the first quarter. The Manufacturers Life Insurance Company now owns 92,515 shares of the company's stock worth $1,844,000 after acquiring an additional 5,731 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Kestra Medical Technologies by 47.2% in the first quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company's stock worth $1,397,000 after acquiring an additional 22,471 shares during the period. Corient Private Wealth LP lifted its stake in shares of Kestra Medical Technologies by 284.2% in the second quarter. Corient Private Wealth LP now owns 60,614 shares of the company's stock worth $1,542,000 after acquiring an additional 44,839 shares during the period. Finally, Spartan Wealth Advisory Services LLC bought a new stake in Kestra Medical Technologies in the first quarter valued at approximately $603,000.

Kestra Medical Technologies Company Profile

Kestra Medical Technologies, Inc is a medical technology company focused on developing and commercializing wearable solutions for patients at risk of sudden cardiac arrest. Its primary product is the ASSURE wearable cardioverter defibrillator, a wearable device designed to continuously monitor a patient's heart rhythm and deliver a therapeutic shock when clinically necessary.

The company's platform combines cardiac monitoring, arrhythmia detection and defibrillation capabilities in a wearable system intended for use outside the hospital.

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