Kestra Medical initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt O’Brien initiated coverage of Kestra Medical (KMTS) with an Overweight rating and $27 price target The firm says the company offers a “unique,” wearable cardioverter defibrillator. The product is used to protect a patient from a sudden cardiac arrest until they are eligible for an implantable cardioverter defibrillator either after a heart attack or with several heart failure, the analyst tells investors in a research note. It believes the extra capital from the initial public offering could help Kestra to dominate the wearable cardioverter defibrillator market as it ramps its sales force. Piper believes the company will grow 40% or more in the coming years.