Sanara MedTech (NASDAQ:SMTI) Earns “Buy” Rating from HC Wainwright

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

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price target on shares of Sanara MedTech in a research report on Wednesday.

Sanara MedTech Stock Performance

NASDAQ SMTI opened at $38.12 on Thursday. Sanara MedTech has a twelve month low of $26.00 and a twelve month high of $40.75. 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 business’s fifty day moving average is $34.66 and its 200 day moving average is $32.84.

Sanara MedTech (NASDAQ:SMTI) last announced 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. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. The firm had revenue of $21.67 million for the quarter. During the same period in the previous year, the business posted ($0.13) earnings per share. Equities analysts predict that Sanara MedTech will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in shares of Sanara MedTech in the fourth quarter worth approximately $898,000. State Street Corp lifted its position 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 worth $1,775,000 after purchasing an additional 4,932 shares during the period. Barclays PLC boosted its stake in shares of Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after purchasing an additional 4,376 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Sanara MedTech by 4.4% during 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in 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 buying an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.