Kestra Medical Technologies (NASDAQ:KMTS) Shares Down 8.7% on Disappointing Earnings

Shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) dropped 8.7% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $19.17 and last traded at $19.3040. Approximately 280,326 shares traded hands during trading, a decline of 5% from the average daily volume of 295,539 shares. The stock had previously closed at $21.14.

The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). The company had revenue of $24.55 million for the quarter. The business’s revenue was up 62.7% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KMTS shares. Piper Sandler lifted their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kestra Medical Technologies in a research report on Wednesday, December 24th. BTIG Research reissued a “buy” rating and set a $32.00 price objective on shares of Kestra Medical Technologies in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Kestra Medical Technologies from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Stifel Nicolaus set a $30.00 price target on shares of Kestra Medical Technologies 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Activity at Kestra Medical Technologies

In other Kestra Medical Technologies news, insider Brian Daniel Webster sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $25.60, for a total transaction of $384,000.00. Following the completion of the sale, the insider directly owned 379,786 shares in the company, valued at approximately $9,722,521.60. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Traci S. Umberger sold 10,500 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $26.69, for a total value of $280,245.00. Following the completion of the transaction, the insider owned 136,633 shares in the company, valued at approximately $3,646,734.77. This trade represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,500 shares of company stock valued at $1,405,095 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Millennium Management LLC bought a new stake in shares of Kestra Medical Technologies during the 1st quarter valued at about $11,036,000. Woodline Partners LP bought a new stake in Kestra Medical Technologies during the first quarter valued at approximately $2,510,000. Jane Street Group LLC purchased a new stake in Kestra Medical Technologies during the first quarter valued at approximately $756,000. Geode Capital Management LLC raised its position in Kestra Medical Technologies by 718.5% in the second quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock worth $5,395,000 after acquiring an additional 285,579 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Kestra Medical Technologies during the 2nd quarter worth $54,000.

Kestra Medical Technologies Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.47 and a current ratio of 5.47. The stock has a market cap of $1.12 billion and a P/E ratio of -6.09. The business’s 50-day moving average price is $24.33 and its 200-day moving average price is $24.57.

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.