Kestra Medical Technologies (NASDAQ:KMTS) Shares Gap Up – What’s Next?

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) gapped up prior to trading on Friday . The stock had previously closed at $23.60, but opened at $24.68. Kestra Medical Technologies shares last traded at $24.86, with a volume of 15,303 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KMTS. Wells Fargo & Company raised their target price 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. BTIG Research started 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 for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Kestra Medical Technologies in a report on Wednesday, December 24th. The Goldman Sachs Group set a $24.00 target price on Kestra Medical Technologies in a report on Friday, January 16th. Finally, Piper Sandler raised their price target on Kestra Medical Technologies from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Kestra Medical Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Stock Down 0.4%

The company has a current ratio of 5.47, a quick ratio of 5.47 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average price is $25.47 and its two-hundred day moving average price is $22.36. The company has a market capitalization of $1.44 billion and a price-to-earnings ratio of -7.76.

Insider Activity at Kestra Medical Technologies

In related news, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $22.80, for a total transaction of $342,000.00. Following the transaction, the insider directly owned 394,786 shares of the company’s stock, valued at approximately $9,001,120.80. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Traci S. Umberger sold 10,500 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $26.69, for a total value of $280,245.00. Following the sale, the insider directly owned 136,633 shares of the company’s stock, valued at $3,646,734.77. This represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,500 shares of company stock worth $1,021,095 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Several institutional investors and hedge funds have recently modified their holdings of KMTS. Jennison Associates LLC lifted its position in Kestra Medical Technologies by 79.0% during the second quarter. Jennison Associates LLC now owns 134,272 shares of the company’s stock worth $2,226,000 after acquiring an additional 59,272 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Kestra Medical Technologies by 32.4% during the second quarter. Franklin Resources Inc. now owns 441,398 shares of the company’s stock worth $7,318,000 after purchasing an additional 108,103 shares during the period. Brown Advisory Inc. increased its stake in shares of 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 purchasing an additional 29,607 shares during the period. Eventide Asset Management LLC lifted its holdings in Kestra Medical Technologies by 285.7% during the 2nd quarter. Eventide Asset Management LLC now owns 1,060,557 shares of the company’s stock worth $17,584,000 after purchasing an additional 785,557 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Kestra Medical Technologies in the 2nd quarter valued at $54,000.

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.