Travis Steed, an analyst from Bank of America Securities, reiterated the Buy rating on Kestra Medical Technologies Ltd.. The associated price target remains the same with $30.00.
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Travis Steed’s rating is based on Kestra Medical Technologies Ltd.’s strong financial performance and market position. The company reported FQ2’26 revenue at the high end of expectations, surpassing Street estimates, and raised its FY26 guidance, indicating robust growth prospects. The market for wearable cardioverter defibrillators (WCD) is accelerating, with Kestra capturing a significant share and demonstrating a year-over-year growth rate of 53%, outpacing its competitor Zoll. This growth is supported by improved gross margins and a strategic focus on capturing more in-network patients.
Additionally, Kestra’s recent clinical data from the ACE-PAS study has been well-received by clinicians, potentially broadening the use of its ASSURE device. The company’s proactive approach to market development and its recent capital raise position it well for future investment opportunities and expansion of its sales force. These factors contribute to the Buy rating, reflecting the potential for continued revenue growth and market share gains.