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

Summit Partners Public Asset Management LLC bought a new stake in Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 350,000 shares of the company’s stock, valued at approximately $9,282,000.

Other institutional investors have also modified their holdings of the company. Seven Grand Managers LLC acquired a new position in shares of Kestra Medical Technologies in the fourth quarter worth $2,652,000. UBS Group AG boosted its stake in Kestra Medical Technologies by 34.9% in the fourth quarter. UBS Group AG now owns 270,058 shares of the company’s stock valued at $7,162,000 after acquiring an additional 69,908 shares in the last quarter. Jennison Associates LLC boosted its stake in Kestra Medical Technologies by 15.0% in the fourth quarter. Jennison Associates LLC now owns 219,355 shares of the company’s stock valued at $5,817,000 after acquiring an additional 28,573 shares in the last quarter. Eventide Asset Management LLC boosted its stake in shares of Kestra Medical Technologies by 5.4% during the fourth quarter. Eventide Asset Management LLC now owns 1,269,651 shares of the company’s stock worth $33,671,000 after buying an additional 65,288 shares during the period. Finally, Brown Advisory Inc. boosted its stake in shares of Kestra Medical Technologies by 34.1% during the fourth quarter. Brown Advisory Inc. now owns 1,688,356 shares of the company’s stock worth $44,775,000 after buying an additional 428,996 shares during the period.

Wall Street Analysts Forecast Growth

KMTS has been the subject of several analyst reports. Weiss Ratings cut shares of Kestra Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. The Goldman Sachs Group dropped their price objective on shares of Kestra Medical Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, BTIG Research restated a “buy” rating and set a $32.00 target price on shares of Kestra Medical Technologies in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kestra Medical Technologies currently has a consensus rating of “Hold” and an average price target of $27.40.

Insider Transactions at Kestra Medical Technologies

In related news, insider Brian Daniel Webster sold 15,000 shares of the firm’s 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 in the company, valued at approximately $7,017,114.56. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.

Kestra Medical Technologies Stock Down 5.8%

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

Kestra Medical Technologies (NASDAQ:KMTS) last announced its earnings results on Tuesday, March 17th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). Kestra Medical Technologies had a negative return on equity of 65.49% and a negative net margin of 171.87%.The firm had revenue of $24.55 million for the quarter. The company’s revenue for the quarter was up 62.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kestra Medical Technologies, Ltd. will post -2.34 earnings per share for the current year.

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.