Summit Partners Public Asset Management LLC Takes $9.28 Million Position in Kestra Medical Technologies, Ltd. $KMTS

Summit Partners Public Asset Management LLC acquired a new stake in shares of Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 350,000 shares of the company’s stock, valued at approximately $9,282,000. Summit Partners Public Asset Management LLC owned about 0.60% of Kestra Medical Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMTS. Franklin Resources Inc. lifted its holdings in shares of Kestra Medical Technologies by 180.8% during the 4th quarter. Franklin Resources Inc. now owns 951,008 shares of the company’s stock valued at $25,221,000 after purchasing an additional 612,343 shares during the last quarter. Millennium Management LLC purchased a new position in Kestra Medical Technologies in the 1st quarter worth $11,036,000. Brown Advisory Inc. grew its position in Kestra Medical Technologies by 34.1% during the 4th quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock worth $44,775,000 after purchasing an additional 428,996 shares during the period. Geode Capital Management LLC grew its position in Kestra Medical Technologies by 718.5% during the 2nd quarter. Geode Capital Management LLC now owns 325,326 shares of the company’s stock worth $5,395,000 after purchasing an additional 285,579 shares during the period. Finally, Next Century Growth Investors LLC grew its position in shares of Kestra Medical Technologies by 154.5% during the 4th quarter. Next Century Growth Investors LLC now owns 465,845 shares of the company’s stock valued at $12,354,000 after acquiring an additional 282,832 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMTS. Weiss Ratings cut Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. BTIG Research restated a “buy” rating and set a $32.00 target price on shares of Kestra Medical Technologies in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group lowered their target price on Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.40.

Kestra Medical Technologies Trading Down 5.8%

Shares of Kestra Medical Technologies stock opened at $19.23 on Wednesday. The stock has a market cap of $1.12 billion, a P/E ratio of -4.86 and a beta of 0.83. The stock’s 50 day simple moving average is $20.70 and its 200-day simple moving average is $22.97. Kestra Medical Technologies, Ltd. has a 1-year low of $13.25 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.32 and a quick ratio of 7.32.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.01). The company had revenue of $24.55 million for the quarter. Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.The business’s revenue was up 62.7% compared to the same quarter last year. Analysts predict that Kestra Medical Technologies, Ltd. will post -2.34 EPS for the current fiscal year.

Insider Activity at Kestra Medical Technologies

In other news, insider Brian Daniel Webster sold 15,000 shares of Kestra Medical Technologies stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $20.96, for a total transaction of $314,400.00. Following the sale, the insider owned 334,786 shares of the company’s stock, valued at approximately $7,017,114.56. The trade was a 4.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

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.