The Goldman Sachs Group Cuts Kestra Medical Technologies (NASDAQ:KMTS) Price Target to $17.00

Kestra Medical Technologies (NASDAQ:KMTS) had its target price lowered by The Goldman Sachs Group from $22.00 to $17.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Piper Sandler raised their price target on shares of Kestra Medical Technologies from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kestra Medical Technologies in a research report on Monday, March 23rd. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Kestra Medical Technologies in a research report on Tuesday, April 7th. Stifel Nicolaus set a $30.00 price target on shares of Kestra Medical Technologies in a research report on Friday, December 12th. Finally, Wells Fargo & Company raised their price target on shares of Kestra Medical Technologies from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Three equities 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. According to data from MarketBeat, Kestra Medical Technologies currently has a consensus rating of “Hold” and an average target price of $27.40.

Kestra Medical Technologies Stock Performance

KMTS opened at $17.87 on Thursday. Kestra Medical Technologies has a 12-month low of $13.25 and a 12-month high of $30.00. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.04 billion and a PE ratio of -4.51. The firm has a 50 day moving average of $22.66 and a two-hundred day moving average of $24.42.

Kestra Medical Technologies (NASDAQ:KMTS) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.The business had revenue of $24.55 million for the quarter. The firm’s revenue for the quarter was up 62.7% compared to the same quarter last year.

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the sale, the insider owned 364,786 shares of the company’s stock, valued at $7,394,212.22. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 45,000 shares of company stock worth $1,030,050. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kestra Medical Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in KMTS. Eventide Asset Management LLC increased its holdings in Kestra Medical Technologies by 285.7% in the 2nd quarter. Eventide Asset Management LLC now owns 1,060,557 shares of the company’s stock worth $17,584,000 after acquiring an additional 785,557 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kestra Medical Technologies in the 3rd quarter worth $562,000. Janus Henderson Group PLC purchased a new stake in Kestra Medical Technologies in the 4th quarter worth $300,000. Intech Investment Management LLC purchased a new stake in Kestra Medical Technologies in the 4th quarter worth $209,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Kestra Medical Technologies in the 3rd quarter worth $185,000.

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.