Sanara MedTech’s (SMTI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sanara MedTech (NASDAQ:SMTI) in a research report report published on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price objective on shares of Sanara MedTech in a research note on Wednesday.

Sanara MedTech Stock Performance

Sanara MedTech stock opened at $37.12 on Thursday. Sanara MedTech has a 52 week low of $26.00 and a 52 week high of $40.75. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $34.75 and a 200 day moving average price of $32.94. The firm has a market capitalization of $324.47 million, a P/E ratio of -37.49 and a beta of 1.55.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The company had revenue of $21.67 million for the quarter. During the same quarter last year, the business earned ($0.13) earnings per share. Equities research analysts anticipate that Sanara MedTech will post -1.33 earnings per share for the current year.

Institutional Trading of Sanara MedTech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in Sanara MedTech in the fourth quarter worth $898,000. State Street Corp boosted its stake in Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after acquiring an additional 4,932 shares during the period. Barclays PLC raised its position in shares of Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after purchasing an additional 4,376 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Sanara MedTech by 127.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after purchasing an additional 2,272 shares during the period. Institutional investors own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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.