HC Wainwright Reiterates Buy Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $36.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 70.25% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sanara MedTech in a research report on Thursday. Finally, Zacks Research downgraded shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.00.

Sanara MedTech Stock Down 2.8%

SMTI traded down $0.61 during trading on Monday, hitting $21.15. The stock had a trading volume of 22,962 shares, compared to its average volume of 45,190. The company has a market capitalization of $188.19 million, a PE ratio of -5.01 and a beta of 1.06. Sanara MedTech has a twelve month low of $18.90 and a twelve month high of $37.91. The company has a debt-to-equity ratio of 7.34, a quick ratio of 1.60 and a current ratio of 1.80. The stock has a 50 day simple moving average of $22.83 and a two-hundred day simple moving average of $27.35.

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

Institutional Trading of Sanara MedTech

A number of hedge funds and other institutional investors have recently made changes to their positions in SMTI. BNP Paribas Financial Markets raised its position in Sanara MedTech by 351.7% during the third quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock worth $48,000 after acquiring an additional 1,171 shares during the period. Lazard Asset Management LLC raised its position in shares of Sanara MedTech by 63,100.0% during the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock worth $89,000 after purchasing an additional 3,155 shares during the last quarter. Bank of America Corp DE lifted its stake in Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares in the last quarter. Rhumbline Advisers boosted its holdings in Sanara MedTech by 14.9% in the 1st quarter. Rhumbline Advisers now owns 3,714 shares of the company’s stock worth $115,000 after buying an additional 483 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Sanara MedTech by 25.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 10,897 shares of the company’s stock worth $254,000 after buying an additional 2,182 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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.