Kestra Medical Technologies (KMTS) PT Raised to $30 at Stifel

Stifel analyst Rick Wise raised the price target on Kestra Medical Technologies (NASDAQ: KMTS) to $30.00 (from $28.00) while maintaining a Buy rating.

The analyst comments "Coming in at the high-end of the company's Dec. 1st preannounced sales range ($22.2M-$22.6M), Kestra reported F2Q26 (Oct.) sales at $22.6M (+53% Y/Y) also accelerated gross margins to ~51% (+490 bps sequentially Q/Q). Encouragingly, management raised full-year F2026 sales guidance to $91M (+52% Y/Y) from $88M (+47% Y/Y), previously. As expected, this broadly positive quarterly performance was underpinned by (1) continued ASSURE wearable cardioverter defibrillator (WCD) share gains and broader market expansion. Notably, management believes US WCD market growth has accelerated to "low-double-digits" compared to historical high-single-digit growth pre-IPO (March); (2) gradual improvements in in-network patient coverage and revenue conversion rates; and (3) meaningful cash burn reduction and extension of Kestra's cash runway. Other positive F2Q highlights include the company’s excellent +54% Y/Y ASSURE prescription volume growth and steadily-growing commercial team of 100 reps today vs. 70 at IPO (March)."

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