Cantor Fitzgerald Reiterates “Overweight” Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $46.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 47.34% from the stock’s previous close.

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 report on Wednesday.

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $31.22 on Wednesday. The company has a market cap of $272.89 million, a P/E ratio of -31.54 and a beta of 1.37. 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 business has a 50-day moving average price of $34.31 and a two-hundred day moving average price of $33.77. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $39.08.

Sanara MedTech (NASDAQ:SMTI) last issued its earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. The business 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%. As a group, analysts anticipate that Sanara MedTech will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Sanara MedTech

A number of hedge funds and other institutional investors have recently made changes to their positions in SMTI. Wells Fargo & Company MN increased its stake in shares of Sanara MedTech by 53.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock worth $63,000 after purchasing an additional 663 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Sanara MedTech during the fourth quarter valued at $106,000. Deutsche Bank AG grew its holdings in 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 purchasing an additional 1,525 shares during the period. JPMorgan Chase & Co. increased its position in Sanara MedTech by 127.2% in 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. Finally, Bank of America Corp DE raised its stake in shares of Sanara MedTech by 38.7% in the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $125,000 after buying an additional 1,055 shares during the period. 8.10% of the stock is owned by hedge funds and other 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.