Sanara MedTech (NASDAQ:SMTI) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Sanara MedTech (NASDAQ:SMTI) from a hold rating to a strong sell rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also commented on SMTI. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research note on Tuesday, April 21st. Lake Street Capital assumed coverage on Sanara MedTech in a research note on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of Sanara MedTech in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded Sanara MedTech from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.00.

Sanara MedTech Stock Up 3.2%

SMTI stock opened at $21.10 on Tuesday. The company has a market cap of $193.28 million, a price-to-earnings ratio of -5.60 and a beta of 1.16. The company has a debt-to-equity ratio of 7.75, a quick ratio of 1.59 and a current ratio of 1.80. The business’s 50-day moving average is $18.74 and its two-hundred day moving average is $21.44. Sanara MedTech has a fifty-two week low of $16.05 and a fifty-two week high of $35.95.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $27.55 million for the quarter, compared to analysts’ expectations of $27.90 million. Sanara MedTech had a negative net margin of 31.23% and a negative return on equity of 2.74%. As a group, analysts forecast that Sanara MedTech will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of 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 last quarter. Wells Fargo & Company MN increased its holdings in Sanara MedTech by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,322 shares of the company’s stock valued at $78,000 after acquiring an additional 1,457 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Sanara MedTech by 63,100.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after acquiring an additional 3,155 shares during the last quarter. Deutsche Bank AG increased its holdings in Sanara MedTech by 171.1% in the 4th quarter. Deutsche Bank AG now owns 3,985 shares of the company’s stock valued at $93,000 after acquiring an additional 2,515 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Sanara MedTech by 44.1% during the third quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after purchasing an additional 973 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.