Sanara MedTech (NASDAQ:SMTI) Earns Overweight Rating from Cantor Fitzgerald

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They currently have a $46.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 47.34% from the company’s current price.

Separately, HC Wainwright lifted their price objective on shares of Sanara MedTech from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday.

Sanara MedTech Stock Up 5.4 %

SMTI opened at $31.22 on Wednesday. The stock has a fifty day moving average of $34.31 and a 200-day moving average of $33.77. The company has a market capitalization of $272.89 million, a P/E ratio of -31.54 and a beta of 1.37. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $39.08. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23.

Sanara MedTech (NASDAQ:SMTI) last announced its earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. The firm had revenue of $26.31 million for the quarter, compared to analyst estimates of $22.75 million. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. On average, equities analysts expect that Sanara MedTech will post -1.1 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in Sanara MedTech by 53.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after buying an additional 663 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Sanara MedTech in the 4th quarter valued at approximately $106,000. Deutsche Bank AG raised its stake in shares of Sanara MedTech by 75.4% during the fourth quarter. Deutsche Bank AG now owns 3,547 shares of the company’s stock valued at $118,000 after acquiring an additional 1,525 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after purchasing an additional 2,272 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Sanara MedTech by 38.7% during the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $125,000 after purchasing an additional 1,055 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.