Sanara MedTech (NASDAQ:SMTI) Downgraded by Zacks Research to “Hold”

Sanara MedTech (NASDAQ:SMTI) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on SMTI. Wall Street Zen downgraded Sanara MedTech from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. HC Wainwright cut their price objective on Sanara MedTech from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sanara MedTech presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Sanara MedTech Trading Up 4.7%

SMTI stock opened at $22.79 on Tuesday. The firm’s fifty day simple moving average is $22.77 and its two-hundred day simple moving average is $27.47. The stock has a market capitalization of $202.83 million, a price-to-earnings ratio of -5.40 and a beta of 1.06. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 7.34. Sanara MedTech has a twelve month low of $18.90 and a twelve month high of $38.68.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.33. The company had revenue of $26.33 million for the quarter, compared to the consensus estimate of $26.63 million. Sanara MedTech had a negative net margin of 36.79% and a negative return on equity of 21.33%. As a group, analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Sanara MedTech

Several hedge funds have recently made changes to their positions in the company. Stonebridge Wealth Management LLC bought a new stake in shares of Sanara MedTech in the second quarter valued at about $3,397,000. Stephens Inc. AR grew its holdings in Sanara MedTech by 18.0% during the 2nd quarter. Stephens Inc. AR now owns 12,794 shares of the company’s stock worth $363,000 after acquiring an additional 1,952 shares in the last quarter. Marshall Wace LLP increased its position in Sanara MedTech by 144.3% during the 2nd quarter. Marshall Wace LLP now owns 71,511 shares of the company’s stock valued at $2,030,000 after purchasing an additional 42,237 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Sanara MedTech by 343.4% in the 3rd quarter. Squarepoint Ops LLC now owns 31,383 shares of the company’s stock valued at $996,000 after purchasing an additional 24,305 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Sanara MedTech in the 2nd quarter worth approximately $382,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

About Sanara MedTech

Sanara MedTech is a medical technology company focused on developing and commercializing innovative devices for ear, nose and throat (ENT) healthcare. The company’s core offering centers on minimally invasive sinus dilation systems designed to treat chronic sinusitis and related conditions. These products leverage balloon catheter technology to expand sinus pathways and improve patient outcomes while reducing recovery times. In addition to sinus solutions, the portfolio extends to procedural tools and implants for otology and cranial applications.

With its legacy rooted in the assets of a former Johnson & Johnson business, Sanara MedTech combines decades of research and development in ENT therapies.