Kestra Medical Technologies (NASDAQ:KMTS) Shares Gap Down – Time to Sell?

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS)’s stock price gapped down before the market opened on Friday. The stock had previously closed at $31.63, but opened at $28.59. Kestra Medical Technologies shares last traded at $28.7750, with a volume of 6,325 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KMTS shares. JPMorgan Chase & Co. started coverage on Kestra Medical Technologies in a report on Monday, August 10th. They issued an “overweight” rating and a $30.00 target price on the stock. BTIG Research restated a “buy” rating and issued a $32.00 price target on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Oppenheimer initiated coverage on shares of Kestra Medical Technologies in a research note on Tuesday, July 21st. They set a “market perform” rating for the company. Evercore initiated coverage on shares of Kestra Medical Technologies in a research note on Tuesday, October 20th. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, Wall Street Zen lowered shares of Kestra Medical Technologies from a “hold” rating to a “sell” rating in a report on Sunday, November 8th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Stock Performance

The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.69 billion, a PE ratio of -10.61 and a beta of 0.45. The firm’s 50-day simple moving average is $27.31 and its 200-day simple moving average is $24.10.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its earnings results on Monday, September 14th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.14). The company had revenue of $30.97 million for the quarter. Kestra Medical Technologies had a negative return on equity of 63.83% and a negative net margin of 140.43%. On average, research analysts predict that Kestra Medical Technologies, Ltd. will post -2.45 earnings per share for the current year.

Insider Transactions at Kestra Medical Technologies

In other Kestra Medical Technologies news, CFO Vaseem Mahboob sold 4,788 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $30.60, for a total transaction of $146,512.80. Following the transaction, the chief financial officer directly owned 60,609 shares in the company, valued at $1,854,635.40. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond W. Cohen sold 3,330 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $29.28, for a total transaction of $97,502.40. Following the transaction, the director directly owned 54,790 shares in the company, valued at $1,604,251.20. This trade represents a 5.73% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 266,456 shares of company stock valued at $7,585,946 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kestra Medical Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LP raised its stake in Kestra Medical Technologies by 284.2% in the second quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock worth $1,542,000 after buying an additional 44,839 shares in the last quarter. Sei Investments Co. lifted its holdings in Kestra Medical Technologies by 22.6% during the first quarter. Sei Investments Co. now owns 237,116 shares of the company’s stock worth $4,726,000 after buying an additional 43,753 shares during the period. Spartan Wealth Advisory Services LLC bought a new stake in Kestra Medical Technologies during the 1st quarter valued at $603,000. Quantinno Capital Management LP bought a new stake in Kestra Medical Technologies during the 1st quarter valued at $431,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Kestra Medical Technologies by 47.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock valued at $1,397,000 after acquiring an additional 22,471 shares during the period.

About Kestra Medical Technologies

Kestra Medical Technologies is a medical technology company focused on wearable solutions for people at risk of sudden cardiac arrest. Its products combine cardiac monitoring, treatment technology and digital services intended to support patients and their care teams. The company’s flagship product, the ASSURE wearable cardioverter defibrillator, continuously monitors a patient’s heart rhythm and can deliver a treatment shock if it detects a life-threatening arrhythmia. The system also provides alerts and supports remote sharing of patient data with clinicians.