Kestra Medical Technologies (NASDAQ:KMTS) Hits New 12-Month High – What’s Next?

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) reached a new 52-week high on Wednesday. The stock traded as high as $31.10 and last traded at $30.8840, with a volume of 86,422 shares trading hands. The stock had previously closed at $29.01.

Wall Street Analysts Forecast Growth

KMTS has been the subject of several recent analyst reports. Wall Street Zen upgraded Kestra Medical Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of Kestra Medical Technologies in a research note on Tuesday, September 15th. JPMorgan Chase & Co. began coverage on Kestra Medical Technologies in a report on Monday, August 10th. They issued an “overweight” rating and a $30.00 target price for the company. Weiss Ratings upgraded Kestra Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Finally, Evercore assumed coverage on Kestra Medical Technologies in a research report on Tuesday, October 20th. They set an “outperform” rating and a $34.00 target price for the company. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Stock Up 0.4%

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 business has a 50 day moving average price of $26.90 and a 200 day moving average price of $23.96. The firm has a market capitalization of $1.71 billion, a P/E ratio of -10.71 and a beta of 0.45.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings data on Monday, September 14th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.14). The business 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%. On average, analysts predict that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insiders Place Their Bets

In other Kestra Medical Technologies news, CFO Vaseem Mahboob sold 4,788 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $30.60, for a total value of $146,512.80. Following the completion of the sale, the chief financial officer directly owned 60,609 shares of the company’s stock, valued at $1,854,635.40. This represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Traci S. Umberger sold 30,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $30.03, for a total transaction of $900,900.00. Following the completion of the sale, the insider directly owned 195,825 shares of the company’s stock, valued at approximately $5,880,624.75. This trade represents a 13.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 266,456 shares of company stock valued at $7,585,946 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sei Investments Co. grew its holdings in shares of Kestra Medical Technologies by 22.6% during the 1st quarter. Sei Investments Co. now owns 237,116 shares of the company’s stock worth $4,726,000 after purchasing an additional 43,753 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kestra Medical Technologies by 6.6% in the first quarter. The Manufacturers Life Insurance Company now owns 92,515 shares of the company’s stock valued at $1,844,000 after purchasing an additional 5,731 shares in the last quarter. Bank of New York Mellon Corp raised 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 valued at $1,397,000 after purchasing an additional 22,471 shares in the last quarter. Corient Private Wealth LP raised 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 valued at $1,542,000 after purchasing an additional 44,839 shares in the last quarter. Finally, Spartan Wealth Advisory Services LLC bought a new position in Kestra Medical Technologies in the first quarter worth $603,000.

About Kestra Medical Technologies

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.