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

Kestra Medical Technologies, Ltd. (NASDAQ:KMTS) 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KMTS shares. Oppenheimer started coverage on Kestra Medical Technologies in a research report on Tuesday, July 21st. They set a “market perform” rating on the stock. Evercore began coverage on shares of Kestra Medical Technologies in a report on Tuesday, October 20th. They issued an “outperform” rating and a $34.00 target price for the company. Piper Sandler reissued an “overweight” rating on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Weiss Ratings upgraded shares of Kestra Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of Kestra Medical Technologies in a research report on Tuesday, September 15th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kestra Medical Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Kestra Medical Technologies Price Performance

The stock has a 50 day moving average of $27.31 and a 200-day moving average of $24.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.69 and a current ratio of 4.69. The company has a market cap of $1.69 billion, a PE ratio of -10.61 and a beta of 0.45.

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

Insider Activity

In related news, CFO Vaseem Mahboob sold 4,788 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $30.60, for a total value of $146,512.80. Following the transaction, the chief financial officer owned 60,609 shares in the company, valued at approximately $1,854,635.40. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Webster sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $29.56, for a total transaction of $443,400.00. Following the transaction, the insider directly owned 445,215 shares of the company’s stock, valued at $13,160,555.40. This represents a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 266,456 shares of company stock valued at $7,585,946. 5.30% of the stock is owned by insiders.

Institutional Trading of Kestra Medical Technologies

Several large investors have recently made changes to their positions in KMTS. First Trust Advisors LP boosted its holdings in shares of Kestra Medical Technologies by 352.1% in the 3rd quarter. First Trust Advisors LP now owns 313,012 shares of the company’s stock valued at $8,855,000 after acquiring an additional 243,775 shares during the last quarter. Corient Private Wealth LP raised its holdings in shares of Kestra Medical Technologies by 284.2% during the second quarter. Corient Private Wealth LP now owns 60,614 shares of the company’s stock worth $1,542,000 after purchasing an additional 44,839 shares during the last quarter. Sei Investments Co. raised its holdings in shares of 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 purchasing an additional 43,753 shares during the last quarter. Spartan Wealth Advisory Services LLC acquired a new position in Kestra Medical Technologies during the first quarter valued at $603,000. Finally, Bank of New York Mellon Corp lifted its position in Kestra Medical Technologies by 47.2% during the first quarter. Bank of New York Mellon Corp now owns 70,113 shares of the company’s stock valued at $1,397,000 after purchasing an additional 22,471 shares during the period.

Kestra Medical Technologies Company Profile

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.