HC Wainwright Weighs in on Sanara MedTech FY2024 Earnings

Sanara MedTech Inc. (NASDAQ:SMTI) – Equities researchers at HC Wainwright issued their FY2024 earnings per share estimates for shares of Sanara MedTech in a note issued to investors on Monday, December 23rd. HC Wainwright analyst Y. Chen anticipates that the company will earn ($1.24) per share for the year. HC Wainwright currently has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Sanara MedTech’s current full-year earnings is ($1.42) per share. HC Wainwright also issued estimates for Sanara MedTech’s Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.96) EPS.

Sanara MedTech Price Performance

Shares of NASDAQ SMTI opened at $34.94 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $34.62 and its 200 day moving average price is $32.19. Sanara MedTech has a 52 week low of $26.00 and a 52 week high of $43.25. The stock has a market cap of $305.41 million, a price-to-earnings ratio of -35.29 and a beta of 1.57.

Sanara MedTech (NASDAQ:SMTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.28. The company had revenue of $21.67 million for the quarter. Sanara MedTech had a negative return on equity of 19.86% and a negative net margin of 10.71%. During the same period last year, the company posted ($0.13) EPS.

Institutional Investors Weigh In On Sanara MedTech

A number of institutional investors and hedge funds have recently bought and sold shares of SMTI. Barclays PLC lifted its position in shares of Sanara MedTech by 323.0% in the third quarter. Barclays PLC now owns 5,731 shares of the company’s stock valued at $174,000 after acquiring an additional 4,376 shares in the last quarter. State Street Corp increased its position in Sanara MedTech by 9.2% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in Sanara MedTech by 4.4% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.