JPMorgan Chase & Co. Begins Coverage on Kestra Medical Technologies (NASDAQ:KMTS)

Research analysts at JPMorgan Chase & Co. began coverage on shares of Kestra Medical Technologies (NASDAQ:KMTS) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “overweight” rating and a $30.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.64% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. Wolfe Research set a $30.00 price target on shares of Kestra Medical Technologies in a research report on Wednesday, July 15th. Wall Street Zen raised Kestra Medical Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer assumed coverage on shares of Kestra Medical Technologies in a report on Tuesday, July 21st. They set a “market perform” rating for the company. Finally, BTIG Research boosted 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. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kestra Medical Technologies presently has a consensus rating of “Hold” and a consensus target price of $28.14.

Kestra Medical Technologies Stock Performance

NASDAQ KMTS opened at $26.40 on Monday. The stock has a market cap of $1.55 billion, a P/E ratio of -10.91 and a beta of 0.58. 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 company has a fifty day simple moving average of $22.96 and a two-hundred day simple moving average of $22.57. Kestra Medical Technologies has a 12-month low of $14.30 and a 12-month high of $30.00.

Kestra Medical Technologies (NASDAQ:KMTS) last announced its quarterly earnings data on Tuesday, July 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.08). The firm had revenue of $28.64 million during the quarter. Kestra Medical Technologies had a negative net margin of 138.35% and a negative return on equity of 57.38%. On average, analysts forecast that Kestra Medical Technologies will post -2.29 earnings per share for the current year.

Insider Buying and Selling at Kestra Medical Technologies

In related news, insider Alfred J. Ford, Jr. sold 13,015 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $23.90, for a total transaction of $311,058.50. Following the transaction, the insider owned 105,839 shares of the company’s stock, valued at approximately $2,529,552.10. This represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Daniel Webster sold 51,900 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.52, for a total value of $1,272,588.00. Following the completion of the transaction, the insider owned 475,215 shares in the company, valued at approximately $11,652,271.80. This trade represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 211,877 shares of company stock valued at $4,922,844. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Kestra Medical Technologies

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in 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 last quarter. Brown Brothers Harriman & Co. lifted its stake in Kestra Medical Technologies by 26.8% in the third quarter. Brown Brothers Harriman & Co. now owns 3,104 shares of the company’s stock valued at $74,000 after buying an additional 656 shares during the last quarter. Rhumbline Advisers boosted its stake in Kestra Medical Technologies by 7.3% during the 3rd quarter. Rhumbline Advisers now owns 12,925 shares of the company’s stock valued at $307,000 after purchasing an additional 874 shares during the period. Farther Finance Advisors LLC bought a new position in Kestra Medical Technologies in the 4th quarter worth approximately $31,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Kestra Medical Technologies by 34.6% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,420 shares of the company’s stock worth $144,000 after purchasing an additional 1,392 shares in the last quarter.

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.