Sanara MedTech (NASDAQ:SMTI) Announces Earnings Results, Misses Estimates By $0.22 EPS

Sanara MedTech (NASDAQ:SMTI) released its quarterly earnings results on Thursday. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.22), FiscalAI reports. Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%. The business had revenue of $28.43 million for the quarter, compared to the consensus estimate of $29.30 million.

Sanara MedTech Price Performance

Shares of NASDAQ SMTI traded up $0.93 during mid-day trading on Thursday, reaching $32.54. The company had a trading volume of 65,914 shares, compared to its average volume of 129,622. The firm has a market cap of $299.04 million, a price-to-earnings ratio of -9.06 and a beta of 1.23. The business’s 50-day simple moving average is $34.07 and its 200 day simple moving average is $25.89. Sanara MedTech has a one year low of $16.05 and a one year high of $35.52. The company has a debt-to-equity ratio of 5.86, a quick ratio of 2.30 and a current ratio of 2.58.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Sanara MedTech in a research report on Wednesday, November 4th. Lake Street Capital cut shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a report on Thursday, July 30th. HC Wainwright downgraded shares of Sanara MedTech from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $35.00 in a research report on Thursday, July 30th. Freedom Capital cut Sanara MedTech from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sanara MedTech currently has an average rating of “Reduce” and a consensus price target of $35.00.

Sanara MedTech Company Profile

Sanara MedTech, Inc. develops, markets and distributes medical products for wound care, surgical tissue repair and related applications. Its offerings are intended for use by healthcare professionals treating acute and chronic wounds and supporting tissue healing. The company’s portfolio includes CellerateRX® collagen-based products and BIAKŌS® antimicrobial products, along with other solutions for wound and surgical care. Sanara sells its products to healthcare providers and through distribution channels.