HC Wainwright Reiterates Buy Rating for Sanara MedTech (NASDAQ:SMTI)

Sanara MedTech (NASDAQ:SMTI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 34.70% from the stock’s previous close.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 target price on shares of Sanara MedTech in a research note on Wednesday.

Sanara MedTech Trading Down 2.6 %

SMTI opened at $37.12 on Thursday. Sanara MedTech has a twelve month low of $26.00 and a twelve month high of $40.75. The company has a fifty day moving average of $34.70 and a 200-day moving average of $32.87. The stock has a market cap of $324.43 million, a PE ratio of -37.49 and a beta of 1.55. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 0.76.

Sanara MedTech (NASDAQ:SMTI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.28. The company had revenue of $21.67 million during the quarter. Sanara MedTech had a negative net margin of 10.71% and a negative return on equity of 19.86%. During the same period last year, the business earned ($0.13) EPS. On average, sell-side analysts predict that Sanara MedTech will post -1.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Sanara MedTech by 127.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,058 shares of the company’s stock valued at $123,000 after acquiring an additional 2,272 shares in the last quarter. Barclays PLC raised its holdings 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 purchasing an additional 4,376 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Sanara MedTech during the fourth quarter valued at about $898,000. State Street Corp boosted its holdings in Sanara MedTech by 9.2% during 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 last quarter. Finally, Geode Capital Management LLC grew its position in Sanara MedTech by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,271 shares of the company’s stock worth $2,670,000 after purchasing an additional 3,755 shares in the last quarter. 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.