Sanara MedTech (NASDAQ:SMTI) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Sanara MedTech (NASDAQ:SMTI) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $46.00 target price on the stock.

Separately, HC Wainwright upped their price objective on Sanara MedTech from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday.

Sanara MedTech Trading Down 5.0 %

NASDAQ SMTI opened at $29.63 on Wednesday. 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 stock’s 50-day moving average is $34.34 and its 200-day moving average is $33.79. Sanara MedTech has a one year low of $26.00 and a one year high of $39.08. The firm has a market cap of $259.00 million, a P/E ratio of -29.93 and a beta of 1.37.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The company had revenue of $26.31 million during the quarter, compared to analysts’ expectations of $22.75 million. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. Sell-side analysts anticipate that Sanara MedTech will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Sanara MedTech

A number of institutional investors have recently made changes to their positions in SMTI. Northern Trust Corp increased its stake in Sanara MedTech by 0.9% in the 4th quarter. Northern Trust Corp now owns 40,816 shares of the company’s stock valued at $1,355,000 after buying an additional 358 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Sanara MedTech by 53.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after acquiring an additional 663 shares during the last quarter. Barclays PLC raised its holdings in Sanara MedTech by 12.1% during the fourth quarter. Barclays PLC now owns 6,423 shares of the company’s stock worth $213,000 after acquiring an additional 692 shares in the last quarter. Bank of America Corp DE boosted its position in Sanara MedTech by 38.7% during the fourth quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $125,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Sanara MedTech by 9.6% during the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock valued at $492,000 after purchasing an additional 1,294 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

About Sanara MedTech

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.