Wall Street Zen Downgrades Kestra Medical Technologies (NASDAQ:KMTS) to Sell

Key Points

• Kestra Medical Technologies has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a potential decline in investor confidence.
• Wells Fargo reduced its price objective for Kestra's shares from $28.00 to $27.00, while the average target price currently stands at $27.33.
• Institutional investors have been active, with significant new stakes acquired by several firms, including Yu Fan and T. Rowe Price investment management.

Kestra Medical Technologies (NASDAQ:KMTS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Separately, Wells Fargo & Company cut their price objective on shares of 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 assigned a Hold rating to the company. According to MarketBeat, Kestra Medical Technologies currently has an average rating of "Moderate Buy" and an average target price of $27.33.

Kestra Medical Technologies Trading Up 0.9%

Kestra Medical Technologies stock opened at $24.33 on Friday. The company has a quick ratio of 6.84, a current ratio of 6.84 and a debt-to-equity ratio of 0.23. Kestra Medical Technologies has a 12-month low of $13.25 and a 12-month high of $27.71. The firm's fifty day moving average price is $18.23 and its 200 day moving average price is $20.13.

Hedge Funds Weigh In On Kestra Medical Technologies

Institutional investors have recently added to or reduced their stakes in the company. Yu Fan acquired a new stake in shares of Kestra Medical Technologies in the 1st quarter valued at approximately $56,880,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Kestra Medical Technologies in the first quarter valued at $56,613,000. Omega Fund Management LLC bought a new position in shares of Kestra Medical Technologies in the first quarter valued at $44,754,000. Alliancebernstein L.P. acquired a new stake in Kestra Medical Technologies during the 1st quarter valued at $29,500,000. Finally, Eventide Asset Management LLC lifted its holdings in shares of Kestra Medical Technologies by 285.7% during the second quarter. Eventide Asset Management LLC now owns 1,060,557 shares of the company's stock worth $17,584,000 after buying 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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