Sanara MedTech (NASDAQ:SMTI) Upgraded to “Hold” at Zacks Research

Sanara MedTech (NASDAQ:SMTI) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on SMTI. Lake Street Capital began coverage on Sanara MedTech in a research report on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Sanara MedTech in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised Sanara MedTech from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.00.

Sanara MedTech Stock Performance

Shares of SMTI stock opened at $21.50 on Wednesday. The stock has a market capitalization of $196.94 million, a PE ratio of -5.70 and a beta of 1.21. Sanara MedTech has a 52-week low of $16.05 and a 52-week high of $35.95. The stock’s 50-day moving average price is $20.27 and its 200 day moving average price is $20.97. The company has a quick ratio of 2.05, a current ratio of 2.28 and a debt-to-equity ratio of 6.59.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $27.55 million during the quarter, compared to analyst estimates of $27.90 million. Sanara MedTech had a negative net margin of 31.23% and a negative return on equity of 3.19%. As a group, equities research analysts forecast that Sanara MedTech will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Sanara MedTech

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings 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 purchasing an additional 973 shares in the last quarter. Deutsche Bank AG boosted 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 purchasing an additional 2,515 shares in the last quarter. Lazard Asset Management LLC boosted 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 purchasing an additional 3,155 shares in the last quarter. Wells Fargo & Company MN boosted 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 purchasing an additional 1,457 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Sanara MedTech by 351.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,504 shares of the company’s stock valued at $48,000 after purchasing an additional 1,171 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.