Kestra Medical Technologies (NASDAQ:KMTS) Sees Strong Trading Volume – Here’s Why

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) shares saw unusually-strong trading volume on Wednesday . Approximately 670,541 shares changed hands during trading, an increase of 146% from the previous session’s volume of 272,881 shares.The stock last traded at $24.72 and had previously closed at $23.01.

Wall Street Analyst Weigh In

Several analysts have recently commented on KMTS shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kestra Medical Technologies in a research report on Wednesday, October 8th. Wall Street Zen downgraded Kestra Medical Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, September 28th. Finally, BTIG Research initiated coverage on Kestra Medical Technologies in a research note on Tuesday, November 18th. They set a “buy” rating and a $32.00 target price on the stock. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kestra Medical Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Kestra Medical Technologies Price Performance

The company has a quick ratio of 6.84, a current ratio of 6.84 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $25.46 and its two-hundred day moving average price is $20.74. The firm has a market capitalization of $1.26 billion and a price-to-earnings ratio of -9.61.

Kestra Medical Technologies (NASDAQ:KMTS) last issued its earnings results on Thursday, September 11th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.16. The firm had revenue of $19.37 million during the quarter, compared to analysts’ expectations of $17.68 million.

Institutional Trading of Kestra Medical Technologies

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Kestra Medical Technologies during the 1st quarter worth $33,000. China Universal Asset Management Co. Ltd. bought a new stake in Kestra Medical Technologies in the third quarter worth $48,000. Police & Firemen s Retirement System of New Jersey bought a new position in Kestra Medical Technologies during the second quarter valued at about $54,000. BNP Paribas Financial Markets lifted 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 buying an additional 1,638 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake 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 worth $74,000 after acquiring an additional 656 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.