Kestra Medical initiated with a Buy at BTIG

BTIG initiated coverage of Kestra Medical (KMTS) with a Buy rating and $32 price target The firm says Kestra is “disrupting” the wearable cardioverter defibrillator market with its Assure device. The device offers an improved detection algorithm and more wearable garment, with a digital ecosystem for patients and doctors, the analyst tells investors in a research note. The firm says the company is still in the early stages of its commercial rollout but has already reached 12% share of the existing U.S. market. BTIG expects Kestra’s business model to drive improved gross margins and sees continued commercial traction along with “beat-and-raise” quarters.