HC Wainwright Initiates Coverage on Sanara MedTech (NASDAQ:SMTI)

Equities research analysts at HC Wainwright assumed coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $50.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 43.10% from the stock’s current price.

Sanara MedTech Trading Up 2.4 %

Shares of SMTI stock opened at $34.94 on Monday. The stock’s fifty day moving average price is $34.62 and its two-hundred day moving average price is $32.19. The company has a market cap of $305.41 million, a PE ratio of -35.29 and a beta of 1.57. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.02 and a current ratio of 2.23. Sanara MedTech has a fifty-two week low of $26.00 and a fifty-two week high of $43.25.

Sanara MedTech (NASDAQ:SMTI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.28. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. The business had revenue of $21.67 million during the quarter. During the same quarter in the prior year, the company earned ($0.13) earnings per share. Equities analysts predict that Sanara MedTech will post -1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanara MedTech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Sanara MedTech by 323.0% during the 3rd quarter. Barclays PLC now owns 5,731 shares of the company’s stock worth $174,000 after acquiring an additional 4,376 shares during the period. State Street Corp grew its holdings in Sanara MedTech by 9.2% in the third quarter. State Street Corp now owns 58,688 shares of the company’s stock worth $1,775,000 after purchasing an additional 4,932 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Sanara MedTech by 4.4% during the third quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock valued at $2,670,000 after purchasing an additional 3,755 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

Sanara MedTech Company Profile

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.