Mirae Asset Global Investments Co. Ltd. Buys New Holdings in Kestra Medical Technologies, Ltd. $KMTS

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,637 shares of the company’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. grew its holdings in shares of Kestra Medical Technologies by 10.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,312,085 shares of the company’s stock worth $21,754,000 after purchasing an additional 128,312 shares during the period. Eventide Asset Management LLC lifted its position in 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 valued at $17,584,000 after buying an additional 785,557 shares in the last quarter. Brown Advisory Inc. grew its stake in Kestra Medical Technologies by 5.4% during the second quarter. Brown Advisory Inc. now owns 580,025 shares of the company’s stock worth $9,617,000 after buying an additional 29,607 shares during the period. Millennium Management LLC purchased a new position in shares of Kestra Medical Technologies in the 1st quarter valued at $11,036,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Kestra Medical Technologies by 32.4% during the 2nd quarter. Franklin Resources Inc. now owns 441,398 shares of the company’s stock valued at $7,318,000 after acquiring an additional 108,103 shares in the last quarter.

Kestra Medical Technologies Price Performance

KMTS opened at $25.12 on Friday. 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’s 50-day moving average price is $25.27 and its 200 day moving average price is $22.90. Kestra Medical Technologies, Ltd. has a fifty-two week low of $13.25 and a fifty-two week high of $30.00. The firm has a market cap of $1.47 billion and a price-to-earnings ratio of -7.92.

Insider Activity at Kestra Medical Technologies

In other news, insider Traci S. Umberger sold 10,500 shares of Kestra Medical Technologies stock in a transaction 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 directly owned 136,633 shares in the company, valued at approximately $3,646,734.77. This trade represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $22.80, for a total value of $342,000.00. Following the completion of the sale, the insider directly owned 394,786 shares in the company, valued at $9,001,120.80. This represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 40,500 shares of company stock worth $1,021,095. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KMTS has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kestra Medical Technologies in a research report on Wednesday, December 24th. The Goldman Sachs Group set a $24.00 price target on Kestra Medical Technologies in a report on Friday, January 16th. BTIG Research began coverage on shares of Kestra Medical Technologies in a research note on Tuesday, November 18th. They set a “buy” rating and a $32.00 price objective on the stock. Stifel Nicolaus set a $30.00 target price on shares of Kestra Medical Technologies in a research note on Friday, December 12th. Finally, Piper Sandler boosted their price objective on shares of Kestra Medical Technologies from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Kestra Medical Technologies 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.