Sanara MedTech (NASDAQ:SMTI) Stock Price Expected to Rise, HC Wainwright Analyst Says

Sanara MedTech (NASDAQ:SMTI) had its target price hoisted by HC Wainwright from $50.00 to $51.00 in a report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 63.36% from the stock’s previous close.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 target price on shares of Sanara MedTech in a research report on Wednesday, January 22nd.

Sanara MedTech Price Performance

Shares of NASDAQ:SMTI opened at $31.22 on Wednesday. The firm has a market capitalization of $272.89 million, a PE ratio of -31.54 and a beta of 1.37. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. Sanara MedTech has a 1-year low of $26.00 and a 1-year high of $39.08. The business’s 50 day moving average is $34.31 and its 200-day moving average is $33.77.

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

Hedge Funds Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTI. Northern Trust Corp increased its holdings in shares of Sanara MedTech by 0.9% during the fourth quarter. Northern Trust Corp now owns 40,816 shares of the company’s stock worth $1,355,000 after buying an additional 358 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Sanara MedTech by 53.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,893 shares of the company’s stock valued at $63,000 after purchasing an additional 663 shares in the last quarter. Barclays PLC increased its holdings in Sanara MedTech by 12.1% during the 4th quarter. Barclays PLC now owns 6,423 shares of the company’s stock valued at $213,000 after purchasing an additional 692 shares in the last quarter. Bank of America Corp DE raised its position in Sanara MedTech by 38.7% in the 4th 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 stake in Sanara MedTech by 9.6% in the fourth quarter. Squarepoint Ops LLC now owns 14,822 shares of the company’s stock worth $492,000 after purchasing an additional 1,294 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.