Short Interest in Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) Rises By 24.8%

Key Points

• Short interest rose 24.8% to 3,494,358 shares as of March 31, equal to about 6.2% of shares sold short and a short‑interest ratio of 5.8 days based on average daily volume.
• Analyst views are mixed: the consensus rating is "Hold" with an average target of $27.40, ranging from a $32 "Buy" (BTIG) down to a $17 target/neutral from Goldman Sachs and a "Sell" from Weiss Ratings.
• Kestra missed Q1 EPS by $0.01 (reported ($0.61)) while revenue climbed 62.7% YoY to $24.55 million, but the company remains unprofitable with negative margins and return on equity.

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 3,494,358 shares, an increase of 24.8% from the March 15th total of 2,799,395 shares. Based on an average daily trading volume, of 602,528 shares, the short-interest ratio is currently 5.8 days. Approximately 6.2% of the company's stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KMTS. Weiss Ratings restated a "sell (d-)" rating on shares of Kestra Medical Technologies in a report on Monday, March 23rd. The Goldman Sachs Group reduced their price target on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Finally, BTIG Research reiterated a "buy" rating and issued a $32.00 price target on shares of Kestra Medical Technologies in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.40.

Kestra Medical Technologies Stock Performance

Kestra Medical Technologies stock traded up $0.20 during trading hours on Thursday, reaching $20.39. 74,457 shares of the stock were exchanged, compared to its average volume of 337,776. The stock has a market cap of $1.19 billion and a P/E ratio of -5.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.32 and a current ratio of 7.32. Kestra Medical Technologies has a 52-week low of $13.25 and a 52-week high of $30.00. The firm's 50 day moving average is $22.32 and its 200 day moving average is $24.32.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.01). The firm had revenue of $24.55 million for the quarter. Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.The firm's quarterly revenue was up 62.7% on a year-over-year basis.

Insider Activity

In other news, insider Brian Daniel Webster sold 15,000 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the transaction, the insider owned 364,786 shares in the company, valued at approximately $7,394,212.22. This represents a 3.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Kestra Medical Technologies

A number of large investors have recently added to or reduced their stakes in KMTS. Millennium Management LLC acquired a new stake in Kestra Medical Technologies in the 1st quarter valued at about $11,036,000. Woodline Partners LP acquired a new stake in shares of Kestra Medical Technologies during the 1st quarter worth about $2,510,000. Jane Street Group LLC acquired a new stake in shares of Kestra Medical Technologies during the 1st quarter worth about $756,000. Geode Capital Management LLC raised its holdings in Kestra Medical Technologies by 718.5% in the second quarter. Geode Capital Management LLC now owns 325,326 shares of the company's stock valued at $5,395,000 after buying an additional 285,579 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in Kestra Medical Technologies in the second quarter valued at approximately $256,000.

Kestra Medical Technologies Company Profile

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. The cornerstone of our Cardiac Recovery System platform is the ASSURE WCD, a next generation wearable cardioverter defibrillator (“WCD”) used to protect patients at an elevated risk of sudden cardiac arrest (“SCA”), a major public health problem that accounts for approximately 50% of all cardiovascular deaths in the U.S.

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