Sanara MedTech (NASDAQ:SMTI) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright began coverage on shares of Sanara MedTech (NASDAQ:SMTI) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $50.00 price target on the stock.

Sanara MedTech Stock Up 1.3 %

Shares of Sanara MedTech stock opened at $34.11 on Monday. 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 12-month low of $26.00 and a 12-month high of $43.25. The company has a market cap of $298.16 million, a P/E ratio of -34.45 and a beta of 1.57. The company’s fifty day simple moving average is $34.58 and its two-hundred day simple moving average is $32.15.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $21.67 million for the quarter. During the same quarter in the prior year, the firm earned ($0.13) EPS. Research analysts anticipate that Sanara MedTech will post -1.42 EPS for the current year.

Institutional Inflows and Outflows

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