FY2024 EPS Estimate for Sanara MedTech Increased by Analyst

Sanara MedTech Inc. (NASDAQ:SMTI) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for shares of Sanara MedTech in a research report issued on Thursday, January 23rd. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of ($1.15) for the year, up from their previous estimate of ($1.24). HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.19) EPS.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.28. The company 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 previous year, the business posted ($0.13) earnings per share.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $44.00 price target on shares of Sanara MedTech in a research report on Wednesday, January 22nd.

Sanara MedTech Stock Performance

Shares of SMTI stock opened at $37.12 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. The firm has a market cap of $324.43 million, a price-to-earnings ratio of -37.49 and a beta of 1.55. The firm’s 50-day simple moving average is $34.75 and its two-hundred day simple moving average is $32.98. Sanara MedTech has a 52 week low of $26.00 and a 52 week high of $40.75.

Hedge Funds Weigh In On Sanara MedTech

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Sanara MedTech by 4.4% in the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after buying an additional 3,755 shares in the last quarter. Barclays PLC increased its stake in Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after acquiring an additional 4,376 shares during the last quarter. State Street Corp raised its holdings in shares of Sanara MedTech by 9.2% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 2,272 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Sanara MedTech during the fourth quarter worth about $898,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.