Kestra Medical Technologies (NASDAQ:KMTS) Trading 7% Higher – Here’s What Happened

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price was up 7% during trading on Tuesday . The company traded as high as $20.45 and last traded at $20.60. Approximately 63,639 shares changed hands during trading, a decline of 78% from the average daily volume of 287,193 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

KMTS has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Kestra Medical Technologies from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. The Goldman Sachs Group set a $24.00 target price on Kestra Medical Technologies in a research note on Friday, January 16th. BTIG Research initiated coverage on Kestra Medical Technologies in a research report on Tuesday, November 18th. They set a “buy” rating and a $32.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Kestra Medical Technologies from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Stifel Nicolaus set a $30.00 target price on shares of Kestra Medical Technologies in a research report on Friday, December 12th. Six research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Stock Up 7.7%

The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.21 billion and a P/E ratio of -6.55. The company has a 50 day simple moving average of $24.42 and a two-hundred day simple moving average of $24.53.

Insider Activity at Kestra Medical Technologies

In related news, insider Traci S. Umberger sold 10,500 shares of Kestra Medical Technologies stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $26.69, for a total transaction of $280,245.00. Following the transaction, the insider owned 136,633 shares in the company, valued at approximately $3,646,734.77. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Daniel Webster sold 15,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $25.60, for a total value of $384,000.00. Following the transaction, the insider owned 379,786 shares of the company’s stock, valued at approximately $9,722,521.60. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 55,500 shares of company stock worth $1,405,095. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Kestra Medical Technologies

Several institutional investors have recently added to or reduced their stakes in KMTS. Russell Investments Group Ltd. grew its holdings in shares of Kestra Medical Technologies by 43.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,563 shares of the company’s stock worth $41,000 after buying an additional 474 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Kestra Medical Technologies by 26.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,104 shares of the company’s stock valued at $74,000 after acquiring an additional 656 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Kestra Medical Technologies by 7.3% during the 3rd quarter. Rhumbline Advisers now owns 12,925 shares of the company’s stock worth $307,000 after purchasing an additional 874 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of Kestra Medical Technologies in the fourth quarter worth about $31,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Kestra Medical Technologies by 34.6% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,420 shares of the company’s stock worth $144,000 after acquiring an additional 1,392 shares during 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. 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.