HC Wainwright Comments on Sanara MedTech FY2024 Earnings

Sanara MedTech Inc. (NASDAQ:SMTI) – Research analysts at HC Wainwright issued their FY2024 earnings estimates for shares of Sanara MedTech in a report released on Monday, December 23rd. HC Wainwright analyst Y. Chen anticipates that the company will post earnings of ($1.24) per share for the year. HC Wainwright has a “Buy” rating and a $50.00 price objective on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.42) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.96) EPS.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.28. The business had revenue of $21.67 million during the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same period in the prior year, the business posted ($0.13) EPS.

Sanara MedTech Trading Up 2.4 %

Shares of NASDAQ SMTI opened at $34.94 on Wednesday. Sanara MedTech has a 1 year low of $26.00 and a 1 year high of $43.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The firm has a 50-day moving average of $34.68 and a 200 day moving average of $32.22. The stock has a market cap of $305.41 million, a P/E ratio of -35.29 and a beta of 1.57.

Hedge Funds Weigh In On Sanara MedTech

Several institutional investors and hedge funds have recently modified their holdings of SMTI. Geode Capital Management LLC boosted its stake in Sanara MedTech by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after purchasing an additional 3,755 shares in the last quarter. Barclays PLC lifted its stake in shares of Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after buying an additional 4,376 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Sanara MedTech by 9.2% during the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after buying an additional 4,932 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

About Sanara MedTech

Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.