Kestra Medical Technologies Ltd. (KMTS) has received a new Buy rating, initiated by Stifel Nicolaus analyst, Rick Wise.
Rick Wise’s rating is based on Kestra Medical Technologies Ltd.’s promising growth trajectory and strategic market positioning. The company is expected to achieve over 40% annual sales growth in the coming years, driven by its innovative ASSURE system, which offers significant advantages in comfort, wearability, and connectivity over existing products. The ASSURE system’s FDA approval and robust reimbursement framework further bolster its market potential.
Additionally, Kestra’s expansion plans, including increasing its sales territories from 70 to 175 by FY2028, are set to enhance its market share significantly. The company’s strategic partnerships and efficient device reconditioning model are expected to support a 61% revenue CAGR from FY2024 to FY2028, alongside substantial margin improvements. These factors collectively underpin Wise’s Buy rating for KMTS, highlighting the company’s strong commercial execution and growth prospects.
In another report released today, Piper Sandler also initiated coverage with a Buy rating on the stock with a $27.00 price target.