Oppenheimer Initiates Coverage on Kestra Medical Technologies (NASDAQ:KMTS)

Oppenheimer began coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “market perform” rating on the stock.

Several other equities analysts also recently issued reports on the stock. BTIG Research upped their price objective on shares of Kestra Medical Technologies from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings downgraded Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. Finally, Wolfe Research set a $30.00 price target on Kestra Medical Technologies in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kestra Medical Technologies presently has a consensus rating of “Hold” and an average price target of $27.83.

Kestra Medical Technologies Stock Performance

Shares of KMTS opened at $20.89 on Tuesday. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.22 billion, a PE ratio of -8.63 and a beta of 0.47. Kestra Medical Technologies has a 12 month low of $14.10 and a 12 month high of $30.00. The stock has a fifty day moving average price of $22.31 and a 200-day moving average price of $22.59.

Kestra Medical Technologies (NASDAQ:KMTS) last announced its earnings results on Tuesday, July 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.08). Kestra Medical Technologies had a negative net margin of 138.35% and a negative return on equity of 57.38%. The business had revenue of $28.64 million for the quarter. Equities research analysts predict that Kestra Medical Technologies will post -2.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kestra Medical Technologies news, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $20.81, for a total value of $312,150.00. Following the completion of the transaction, the insider directly owned 395,467 shares of the company’s stock, valued at approximately $8,229,668.27. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Several institutional investors have recently made changes to their positions in KMTS. Farther Finance Advisors LLC purchased a new stake in Kestra Medical Technologies during the fourth quarter worth $31,000. Russell Investments Group Ltd. raised its position in shares of Kestra Medical Technologies by 43.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,563 shares of the company’s stock worth $41,000 after acquiring an additional 474 shares during the period. BNP Paribas Financial Markets raised its position in shares of Kestra Medical Technologies by 148.9% in the third quarter. BNP Paribas Financial Markets now owns 2,738 shares of the company’s stock worth $65,000 after acquiring an additional 1,638 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Kestra Medical Technologies during the 4th quarter worth about $72,000. Finally, Brown Brothers Harriman & Co. grew its position 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 period.

Kestra Medical Technologies Company 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.