Sanara MedTech (NASDAQ:SMTI) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sanara MedTech (NASDAQ:SMTIFree Report) in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a $50.00 price objective on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price objective on shares of Sanara MedTech in a report on Wednesday.

Read Our Latest Research Report on SMTI

Sanara MedTech Stock Performance

Shares of Sanara MedTech stock opened at $37.12 on Thursday. The stock has a market capitalization of $324.47 million, a price-to-earnings ratio of -37.49 and a beta of 1.55. Sanara MedTech has a 12 month low of $26.00 and a 12 month high of $40.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.23 and a quick ratio of 2.02. The business has a 50-day moving average of $34.75 and a 200 day moving average of $32.94.

Sanara MedTech (NASDAQ:SMTIGet Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.28. The business had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same quarter last year, the firm earned ($0.13) EPS. As a group, sell-side analysts forecast that Sanara MedTech will post -1.33 earnings per share for the current year.

Institutional Trading of Sanara MedTech

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Sanara MedTech by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock worth $123,000 after acquiring an additional 2,272 shares during the period. Geode Capital Management LLC raised its stake in shares of Sanara MedTech by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after buying an additional 3,755 shares in the last quarter. Barclays PLC lifted its holdings in shares of Sanara MedTech by 323.0% in the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after buying an additional 4,376 shares during the period. State Street Corp boosted its stake in shares of Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock valued at $1,775,000 after buying an additional 4,932 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in Sanara MedTech during the fourth quarter worth $898,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Sanara MedTech Company Profile

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Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.

Further Reading

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